Leasing revenues in Bulgaria increased by 86.7% in 2006, reaching BGN 2.3bn, Central Bank data show. Financial leasing accounted for 97.6% of the revenues. Car leasing jumped by nearly 87% to BGN 751.5m. The value of contracts for machines and equipment went up by 107% YoY. The transfer of car credits from banks to leasing companies is one of the main reasons for the big growth in revenues, Hyundai Leasing CEO Vesselin Lafazanski explained. According to Teodor Marinov of Interlease, however, the rise is due to the low 2005 results and the EU accession fever. Many companies had to upgrade their facilities and change their car fleets, he said. Macroeconomic factors account for 40% of the growth, other reasons are the better conditions, competition and bigger number of sold cars, the CEO of Eurolease Auto, Assen Assenov, said.