The Albanian Association of Banks has issued another report on the tendency of lending by individuals and businesses during the year we left and the beginning of this year.
According to the report, lending in USD has increased significantly during 2014 and a continuous increase of the number of loans has increased also in the first months of 2015.
AAB report cites that lending in USD was about 6.4% of the lending for the economy in the beginning of the 2014, while in the first months of this year, lending in USD has increased to 8.2%.
Economy experts say that even why Albania has trade exchanges mostly with European countries and Turkey which use the Euro currency, the increase of lending in dollars shows that there are still trade operators which use the USD currency in trade exchanges.
Lending in USD on January of this year reached the amount of 44.6 billion ALL, 30% more than the amount of lending in the same period of a year before. The interest rates of the American dollar have been low in past years, as a result of the USD’s performance in the international stock markets. The report shows that lending in USD is mostly used by businesses which have trade relations with markets or states which use the USD currency.
News source: ATA
Photo credits: geralt / Pixabay
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