Savings, interests reach minimum
12/07/2013 00:00
Experts condemn the destruction of the Prespa e Vogël lake by burning of the reeds 16/11 21:14
The domestic market is facing a slowdown of the money cost. Official
data form the Bank of Albania show that the one-year maturity treasury
bond interest rate dropped at 5.35%, the lowest level of all time.
Figures show as never before that the interest rate is equalizing that of deposits. The average deposit interest rate in June was 5.11%, according to Bank of Albania, just 0.2% less than the bonds.
This means that banks are preferring to invest their capitals even without profit, by giving it in debt with the government, than putting them in danger with the private operators. This situation has officially plunged Albania in a loan crisis. After many years, the private sector loan reduced for the first time compared to one year ago.
The loan stalemate seems to have included the entire region. Banking groups that generally come from the Eurozone have suspended the new loans for business and individuals, even due to the low request. But experts comment another fact. Currently the one-year bond interest rates in our domestic market are almost the same with the six months.
According to them, this is a signal that banks are waiting for the economic situation to remain dim and the interest norms to get lower, to new historic minimums, dictated by the dark expectancies for the economy.
Top Channel
