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Credit to businesses until November 2021 suffered a slight decline according to the Bank of Albania.
Although 2021 has been hailed as the year of recovery, businesses have preferred not to risk new investments. The credit for last year was saved by the construction sector, which has increased by ALL 11 billion.
Economics expert Igli Tola says that banks and businesses do not have a good cooperation:
Another striking indicator in terms of credit is the poor balance compared to the level of deposits
“Many of the banks send their money to close the problems they may have with a branch abroad, because there are some banks with foreign capital that are allowed to do so and hold higher interest rates.”
According to a survey conducted by the Bank of Albania in June 2021, small and medium-sized businesses have increased their willingness to turn to the black market to borrow money, as banks face very strong criteria, which which also emerged during the withdrawal of funds from the sovereign guarantee.
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