The real interest rate of loans in the Albanian market decreased to 7.1% during the past year, from 8.9% in 2013, shows a report published by the World Bank. The interest rate for loans has continually decreased during the four past years and it is in rough levels as in other regional countries, according to the report.
During the past year, in Kosovo the interest rate for loans was 12.5% while in Montenegro 6.4%. The report of the World Bank also shows that for 2013, the interest rate for loans was 8% in Macedonia and 11.1% in Serbia.
The interest rate is a significant indicator for the economic situation of a country, since it shows the financial conditions of businesses. The decrease of this indicator in the last years shows that the cost for investing has also decreased.
During the past months, the Bank of Albania has published reports which show that banks have increased their amount of loans given to businesses, given that the economy has been revived.
News source: ATA
Photo credits: Maria Elena / Flickr