Expanding financial market in Albania would increase employment in the private sector
Employment in the Western Balkans countries grew at a slow pace last year. According to the World Bank, this proves the weak dynamics of the private sector in the region, including Albania. One of the problems is limited access to credit, which again raises the need to diversify funding sources and especially the development of the capital market.
Asked by Tv Scan, Keler Gjika, an expert on financial markets at the International Finance Corporation, part of the World Bank, says it is important to increase business access to finance, especially for small and medium businesses, which are a pillar of important for employment in the economy.
In the latest labor market trends report in Western Balkan countries, the World Bank noted a significant slowdown in employment growth last year. Tight lending is one of the factors that curbs the growth of business activity and employment. In the model of more developed economies, it is necessary to create an alternative financing channel, through the stock exchange and the financial instruments it provides.