WB: Banks are stimulating Albanian economy, sector is well-capitalized
The banking system is well-capitalized and with profit rates, states World Bank in its spring report for Westrn Balkan countries.
The growth of lending by private banks to the Albanian economy has supported the economy, while addressing the issue of non-performing loans has strengthened banks’ balances, the institution states further on.
Low interest rates, the progress in addressing non-performing loans as well as economic growth have spurred private sector expansion by 13.5%, thus supporting households and private businesses.
The World Bank also appreciates the work of the Bank of Albania in terms of monetary policy, underlining the fact that there was no reason to change the course of these policies, fueled by the fact that inflation continues to lag far from the target of the central bank and below 3%.
The Bank of Albania has stated that it will not raise interest rates before the end of this year, thus pursuing the policy of incentives in the Albanian economy.
SCAN
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