Investment loans hike at 6.8% signals steady recovery for Albanian economy
Investment loans have significantly increased during 2016. According to data from the Bank of Albania, loans for purchase of machinery and equipment in January this year reached the amount of over ALL 100 billion, increasing by 6.8% compared with the same period of last year.
Although lending to business is still tepid, growth of crediting for investment is a positive development, indicating that the economy is producing new projects which are finding support from the banking system.
Increased investment lending has been favored even by low interest rates.
According to Bank of Albania, interest rates for investment loans in January this year in domestic currency fell to 7.9%, from 10.5% that it was in the same period a year ago.
Interest rates are even lower in the euro currency, on average at 4.6% for January.
In the lastr two years, the performance of private investment in the economy is improving, which is proved by the statistics of national production, as well as foreign trade.
In the 9 months of the previous year, gross fixed capital formation grew by 7.9%, compared with the same period of 2015.
The import of machinery and equipment for 2016 grew by 11.4% compared with the previous year.
*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.