Loans for Albanian families
21/04/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
A recent Bank of Albania survey shows that the crisis is deteriorating the individuals’ ability to pay their loans.
The survey held in 1200 families shows that in the second half of 2011, more than 26% of the families in debt have reported a deterioration of their paying capabilities, compared to the first half of the same year.
The Bank says that 26.8% of the total families have debts, and they use a large portion of the revenues to pay them. The survey indicates that 81% of the creditor families pay up to 30% of their monthly revenues, and some have even a higher burden.
9% of the families pay 31-50% of their monthly revenues, and 6% pay more than 50%. Although Albania has a financial system that is distributed in the entire territory, most of the loans are taken in the informal market.
According to the bank, 54% of the individuals have taken the debt from physical persons or relatives, rather than banks.
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