15% of families in debt for food
12/11/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
A recent observation of the Bank of Albania about the financial
situation of individuals sheds light for the first time on a concerning
phenomenon of the Albanian economy, the so called “tab” for food
products in local shops and convenience stores.
The observation made on 1200 families shows that 31% of them have debts, and 15% of them have debts in local convenience stores. On a national level, the figures give a concerning result. From 900.000 families that the Albanian economy has, 45.000 of them have debts for food.
Informal debts are a widespread phenomenon in the Albanian economy. According to the Albanian Bank, more than half of the Albanian families have a debt to pay. 54% of them have received it from informal sources, outside the banking system and mainly from other individuals, such as relatives and friends.
But the most concerning is the loan in shops, which is directly related with the most vital needs. Unable to cover the expenses for the basic food, these families are obliged to accumulate a debt in these shops. The Albanian government assists 140.000 families through economic assistance, but these figures show that 32% of them cannot cover the most vital needs.
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