Fullani: Economy is in danger

“A series of signals that come from the real and financial sector show that the shrinking of the consumers’ balances and the slowdown of investments that have been used so far by the private economic agents, as defensive measures against the crisis, might turn into a damage of the mid-term prospect of the economic growth”, Fullani declared.

Fullani added that the hesitation of business to invest is damaging the competitive advantages of the economy.

“The tendency to save money in banks and the postponement of planned investments could affect the competing advantages of the economy and its growing potential”, Fullani declared.

The Governor admitted that the loans for the economy are being threatened by causes that are not related with Albania, but with the international crisis, and he asked banks to the court orders by taking the ownership of properties left as a guarantee by unpaid loans.

“We encourage banks to treat the problem through more decisive initiatives for executing the guarantees of lost loans. Our evaluation has been and will always be to create the conditions for treating the problem faster, by avoiding its extension in time and by diminishing insecurities in the future”, Fullani declared.

Fullani released these declarations in the twinning ceremony of Bank of Albania with Bank of Italy.

Top Channel