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Shkruar nga Pamfleti
The Bank of Albania's softer approach to monetary policy this year is being reflected in government headlines. From 5.34 percent at the beginning of the year, the interest rate on 12-month Treasury bills has fallen to 3.16 percent.
"The reason why there was a decrease is related to the decision-making of the Bank of Albania, as well as to world developments where there is a decrease in interest rates", says Enkelejd Dyrmishi, financial advisor.
The decline in interest rates on treasury bills and bonds is accompanied by a decline in interest to invest. Based on this 6-month trend, in the August 15 auction, the interest rate for 12-month Treasury bills rose to 3.16 from 3.13 earlier. This is because out of 7.2 billion ALL requested, investors offered 7.66 billion ALL.
"I believe that it is the counters that are buying the treasury bonds. Citizens are trapped by inflation and high prices hardly allow them to invest in government bonds. There may be an immigrant who has money set aside and cannot invest it in the country where he lives", said Enkelejd Dyrmishi, financial advisor.
Despite the drop in interest rates, financial advisors consider government securities not only safe, but also more profitable than bank deposits or other traditional investments in service businesses.
"We seem to be moving away from the idea of keeping the money there. With inflation at such high levels, they only depreciate", says Dyrmishi.
Data from the Ministry of Finance and Economy show that until June the government borrowed 86.6 billion ALL through 12-month bonds from 67.2 billion ALL in the same period of the previous year. /A2CNN
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