Lending for businesses increased by 2.5% on January 2015, compared to 2014

Lending for businesses increased by 2.5% on January 2015, compared to 2014

Lending for businesses during January of this year reached the amount of 401 billion ALL, about 2.5% more than in the same period of a year before. The official data published by the Bank of Albania, announced the increase of lending in the trade sector, since lending increased by 3.8% on January 2015, compared to lending on January 2014. Lending also has increased for businesses which operate in the sector of services and in the processing industry.

The improvement of the liquidity and the repayment of the outstanding debts by the government to businesses have been two most affecting indicators in the increase of lending for businesses.

Experts of Bank of Albania consider the lending of businesses as the locomotive of the country’s economy and its increase represents a revival of the economy during 2015. Lending for businesses comprises about 72% of the total of lending portfolio for the economy of Albania.

On March 17, the IMF officials, Bank of Albania’s Governor and Ministers of Economy and Finances announced in a press conference that the economy of Albania is expected to grow by 3% during 2015, as predicted in 2014.

News source/photo credits: ATA


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