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Credit is rising, government debt interest rates are rising

2022-06-30 16:01:00, Ekonomi CNA
Credit is rising, government debt interest rates are rising
The Bank of Albania

Rising prices have also marked the end of the era of low bank interest rates.

According to the latest statistics of the Banking Association, interest rates on loans increased in April and May.

Interest on lek loans for house purchase reached 3.7% at the end of May, while interest rates on euros reached 3.9%.

This is the first time that the interest in euros for individuals who buy a house exceeds the interest in lek.

On average, the interest rate for this segment increased by 0.4 percentage points.

The loan interest rate has also increased for the private sector.

The most expensive loan is the one for starting a new business. The average bank interest rate at the end of May reached 10% from 7% a year earlier.

In the domestic market the government has bought more expensive debt this period. Interest on treasury bills in the last auction went to 2.5% from 1.4% a year earlier.

At the end of March, the Bank of Albania increased the key interest rate for the lek by 0.5%, as a measure to curb inflation./euronews





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