Businesses are changing the purpose of borrowing - Llakaj: They are investing in innovative equipment to adapt to the EU
Albanian businesses are changing the way they use bank loans, while showing a more sustainable approach to bank financing. According to the Bank of Albania survey, enterprises are taking out more loans for expansion or modernization of their activities. According to economic expert Remir Llakaj, Albanian companies are investing more in innovative equipment to adapt to the European market.
Remir Llakaj Economics Expert:
"According to the latest data from the Bank of Albania, there is a change in trend, on the part of entities for the purpose of obtaining credit. If previously, obtaining credit was determined by the settlement of salaries, or the payment of operating expenses, such as the settlement of invoices, or suppliers, now this trend has changed and societies or companies are investing more in their digitalization in innovative equipment to be as suitable as possible in the European market."
The manufacturing sector, in particular, has a stronger orientation towards modernization, while using credit as a way to increase competitiveness.
"Manufacturing companies are investing in equipment as they seek to be competitive in the European market, and this type of technological investment in modern equipment leads to greater ease in the work process, in production, and in sales."
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