Construction and information "absorb" more loans/ Trade, traditionally the main borrower, recorded a 35% decline
Lending to private non-financial corporations continued to contract in August, falling by 7.7% compared to the same period last year and reaching around 30.9 billion lekë. According to data from the Bank of Albania, the dynamics of the sectors present strong contrasts, with some branches recording extraordinary growth and others having lost most of their financing.
On the positive side, construction was the most financed sector of the month, with loans reaching nearly 7.8 billion lek, more than double compared to August last year. Transport and warehousing also recorded strong growth, where lending increased almost 32 times, reaching over 5.5 billion lek.
An impressive performance was recorded in information and communication, with an increase of over 15 times, while the extractive industry tripled its borrowing, reaching around 409 million lekë. Also positive was the performance of the processing industry, administrative services, education (almost 7 times more) and water supply and waste management, which increased tenfold, although in still modest figures.
Real estate activities and other services also saw growth, by 27% and 14%, respectively. Public administration also recorded a significant nominal growth, albeit from a minimal base.
On the other hand, important sectors shrank significantly. Electricity and gas supply lost about 90% of its financing, falling from over 10.7 billion lek last year to just 1.1 billion lek this August. Trade, traditionally the main borrower, recorded a 35% decline, while accommodation and food services fell by 34%.
Strong contractions were also seen in agriculture (-52%), financial activities (-91%), healthcare (-51%), as well as arts and entertainment, which halved.
Overall, the August picture reflects a shift in lending towards construction, transport and technology, while large sectors such as trade declined. This fragmentation reflects a restructuring of financing sources in the economy, with an increasing emphasis on dynamic and growing sectors.
Germany, unemployment rises above expectations - The labor market does not provide the necessary incentives for recovery
Unemployment in Germany rose more than expected in September, the labor office said, as the labor market struggled to recover. In seasonally adjusted terms,......
How do Albanians keep their money in the bank? - BoA: 1-month deposits, "in the best days". Record growth of 7% in August
Despite the fact that most citizens lock their savings in the bank for a long time, it seems that recently there has been an increase in those who put their......
Italy, tax revenues on the rise - Inflation, employment expansion boost profits and reduce budget deficit
Italy's tax revenues are growing faster than expected, thanks to rising employment and inflation. The trend is bringing the budget deficit back towards the......
September 30, deadline for the self-employment program - Grants of up to 1 million lek for new business ideas
The National Employment and Skills Agency announces that September 30th is the deadline for all unemployed job seekers with a clear business idea to apply......
Pensions increase from October 1 - Indexation at 2.5%, total fund 1.14 billion lek
From October 1, all pensioners in Albania will benefit from a pension increase of 2.5 percent above the amount they currently receive. The decision......
Amazon pays record $2.5 billion fine for consumer fraud
Amazon has agreed to pay $2.5 billion to settle a lawsuit filed by the US federal government, which accused the company of deceiving millions of people into......
Kosovo, imports reach over 5 billion euros in 2025 - Chamber of Commerce: The country is importing inflation along with goods
Kosovo continues to deepen its dependence on imported goods, driving the trade deficit to a high and worrying level. The country imported goods worth over......
Integrating refugees into the labor market - Greek government aims to address labor shortage
Refugees who have been granted asylum in Greece will soon be integrated into the labor market, under a new government plan that aims to alleviate a severe......
