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Weekly Lists
May 11, 2018 www.intellinews.com I Page 28
bne:Credit Albania’s poverty rates
expected to continue falling, World Bank says
Albania’s poverty rates should decline to 31.3% this year and 29.5% in 2019 from an estimated 32.8% last year, the World Bank said in its latest Macro Poverty Outlook published on May 8.
The Albanian economy grew an estimated 3.8% in 2017 supported by investments but is projected to slow to 3.6% in 2018 as large FDI-financed energy projects wind down. GDP growth will be driven by household consumption and a pickup in exports. The economic growth has, of course, led to job creation, contributing to poverty reduction.
Albania’s public debt declined in 2017, but the pace of fiscal consolidation slowed. Fiscal consolidation, improvement in spending efficiency, and implementation of structural reforms remain critical to fostering confidence and growth, according to the World Bank outlook.
Two of Turkey's state-owned lenders have cut mortgage rates following a May 9 meeting between President Recep Tayyip Erdogan and bank chiefs. During the meeting at the palace in Ankara, Erdogan called for cheaper lending to be made available in real estate, one of the main drivers of Turkey's economic growth over the past decade and a half.
Ziraat, Turkey’s biggest bank by assets, said it was lowering its monthly interest rate on mortgages up to TRY500,000 ($117,000) with a maximum maturity of 10 years to 0.98% from 1.23%.
Halkbank, Turkey’s fifth-largest lender by assets, lowered its rate on similar housing loans to a monthly 0.98%.
Fixed-term Belarusian ruble deposits of individuals have increased by 6.7% since the beginning of the year in January-March, according to National Bank of Belarus (NBB).
At the same time, the volume of foreign currency deposits made by individuals virtually did not change in the first quarter of the year, and was close to $8.4bn, according to BELTA news agency.
Significant growth of ruble deposits are attributed to the fact that rates for FX deposits have reached historically low level in Belarus (no more than 2.4% per year for long-term deposits). The result followed significant cut of the key refinance rate over the past years.
Two large Turkish state banks cut mortgage rates at urging of Erdogan
Belarus sees growth of national currency deposits amid record low rates for FX deposits