TIRANA, Dec. 17/ATA/- In 2020, credit to the private sector marked an average annual growth rate of 6.7% during 2020, the Bank of Albania announced.
According to the BoA, the increase in lending was mainly supported by the expansion of lending to businesses and enterprises. While the increase of credit in domestic currency lek had a significant impact.
“The increase of 50.2% of the credit weight of lek loans to the total, gives encouraging signals for improving the effectiveness of monetary policy and the financial stability in the country. The banking sector has made a positive contribution to coping with the crisis,” according to the Bank of Albania report on 2020 Monetary Policy. //a.i/
