TIRANA, June 1 /ATA/ Credit in European currency has increased in the first months of this year.
The Bank of Albania announces that, in the last 4 months, the banking sector disbursed EUR 365 million in fresh credit.
Compared to the corresponding period last year, fresh credit in euro increased by 57%, an increase higher than the average increase of 37% of new credit overall, for the same period.
According to the statistics of the Bank of Albania, at the end of April, the proportion of euro-denominated loan portfolio to the credit to economy reached 46.5%, while a year ago it was around 45.5%.
Experts say that the uncertainty related to the fluctuation in interest rates has prompted banks to invest more of the free funds in euro to extend credit in the country. But another factor, according to them is the increase in import prices.
A good part of importers receive credit in European currency to meet the needs for buying merchandise abroad. /j.p/sm/
