Balkans | Kosovo’s population is deeply in debt

In the first four months of this year, the Central Bank confirmed that nearly 70,000 people in Kosovo used loans from various banks.

In the response provided by the Central Bank to the “Front” Research Institute, it was stated that the total number of borrowers for the first four months of 2023 (January-April) amounted to 69,709.

The value of loans granted to citizens through commercial banks exceeds one billion euros. In the same period (January – April 2023), the value of loans obtained by legal and real persons amounted to 1 billion 35 million 842 thousand 540 euros.

The increase in the number of loans is said to be due to higher prices in many sectors.

In his statement to the media, economist Emir Rasi pointed out that salaries could not cover the expenses, and stated that maintaining the standard due to the high prices in Kosovo affected the purchase of loans.

Pointing out that it has become impossible to cover salary expenses in the face of rising inflation, Rassi said that nearly 70,000 people have used loans from various banks.

Kosovo has faced rising prices for products and services since the end of last year, mainly due to supply disruptions caused by the coronavirus pandemic. It was noted that the Russian invasion of Ukraine also caused an increase in product prices.

Kosovaport