Business loans stumbled in July, Central Bank reports
01/09/2015 00:00
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Business loans continue to remain on very low levels with inconsiderable gains for July, Central Bank of Albania reported on Tuesday. According to the latest figures, the total value of the loans did not pass that of 5551.5 billion lekë, or just 0.17% more than the same period last year, one of the lowest of recent history.
Banking experts say the figure was lowered because commercial banks erased bad loans worth 11 billion lekë, a decision that contributed to the low level of money injected into the economy through loans. Nevertheless, business loans continue to remain weak, as companies are reluctant to request them.
Loan injections for the economy were halted especially after 2012 when figures fell in a stagnation period, thus shrinking the economy, which has maintained low levels since then.
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