Expenses increase, Albanians' savings "shrink". What happened to the deposits in April?

2024-05-30 13:09:02Biznes SHKRUAR NGA REDAKSIA VOX

Expenses increase, Albanians' savings "shrink". What happened to

Deposits in broad money have continued to fall at a rapid pace even in April, confirming a recessionary trend during the first 4 months of this year. Since the beginning of the current year, deposits have "shrunk" by 2.3%.

April's figures speak of 1.29 trillion ALL deposits, from about 1.30 trillion ALL of the previous month. The "shrinking" of broad money deposits started in April last year, stopping in August, and there was a turn in October and December of the year we left behind. In the fourth month of this year, broad money deposits have shrunk by 0.85%, or 11 billion ALL compared to a month ago. Whereas, compared to the other months, we notice that the decrease is estimated at 1.9% with February and 2.3% with January.

In addition to the general analysis, "Scan Intel" has analyzed the data to understand the trend of the movement of deposits in Lek and in foreign currency. As for savings in Lek, the monthly decrease is estimated at 1.2%, where deposits have decreased to 580 billion Lek, from 587 billion registered in March. On the other hand, deposits in foreign currency have decreased to 708 billion lek, recording a smaller decrease than those in lek, of 0.56%.

This general decline in broad money deposits has resulted from the negative contribution of most monetary aggregates. According to the analysis, only time deposits resulted in an increase of 0.4%. However, this decrease in total deposits can also be explained by other factors such as the increase in consumer spending as a result of the increase in prices that forces consumers to consume more than to save.


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