Albanians are getting more loans, regardless of interest rates

Despite the high interest rates, accompanied by uncertainty about the future, Albanian citizens and entrepreneurs knocked more often on banks during October. Data from the Bank of Albania show that the 11 commercial banks in the country lent 30.6 billion ALL during October, to bring the new loan to over 246 billion ALL in 10 months.

"The expansion of new credit, both consumer and mortgage, is coming as a result of reducing inflation and increasing wages. The increase in income makes them somewhat more optimistic to invest", said expert on the economy, Eugen Musta.

The data show that the new credit for individuals in October increased to 74.7 billion ALL, from 71 billion in 2022. Citizens mainly refer to the bank when they are buying a house. However, there are also those citizens who try to stay away from loans, despite the fact that taking them often becomes almost an obligation.

"I don't know what credit is. Prices are very high, especially for apartments. Only immigrants can cover those costs", says the citizen.

The data show that in total, Albanian citizens have received 197.7 billion ALL and about 825 million euros in loans from banks. (A2 Televizion)