TIRANA, Oct 2 /ATA/- Credit in currency increased by 4% in Q3 this year versus the corresponding period 2018, which is mainly attributed to businesses.
Bank of Albania announces that the share of credit in currency at the end of August 2019 was 51.3%, increasing by 1% as compared to August the previous year.
In August, the stock of loan to economy amounted to ALL 561 bn, marking a record level. As of April, lending to economy has been on increase.
In comparison to December 2018, credit has increased by 5.2%, whereas its year to year expansion has seen a slight increase.
By currency, the growth figures are attributed to lending in currency and lek.
Experts say that invigoration of economy has gone hand in hand with increase of consumption and economic growth in the country. Low interest rates as well as simplified procedures have had a spillover effect on increase of lending.
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