
Expectations for a busy tourist season are also reflected in the borrowing of this sector. In January of this year, the businesses of the accommodation and food service group increased their borrowing by 10.7% compared to the same period a year ago. From ALL 33,945 billion in January 2023, the credit for the accommodation and food service sector is 37,607 billion in January of this year. This sector performed very well last year, recording double-digit growth in the second half of the year and significantly increasing its weight in the annual growth of the economy. The other group that is closely related to the tourism, transport and storage sector also experienced strong growth. From ALL 10.5 billion in January 2023, the loan for this group has increased to ALL 16.218 billion in January this year.
The Wholesale and Retail Trade group, which also includes the repair of vehicles and motorcycles, has not followed the same step. From ALL 135 billion in January 2023, the loan for this sector has shrunk to ALL 126,833 billion in January this year.
Credit to the private sector results in measured growth on an annual basis, although decreasing in January, compared to the previous month. From ALL 407.3 billion in January 2023, it is 414.8 billion in January this year, but with a decrease of almost ALL 5 billion compared to the previous month.
Credit to the private sector showed improvement in the fourth quarter of last year, registering an average annual growth of 8.7%. This performance influenced a significant expansion of the portfolio in this quarter, by about ALL 28 billion. Most of this increase was recorded in December, mainly in the business segment. The high rate of capacity utilization and high levels of confidence have influenced the increase in demand for loans. This demand has been answered by an increased offer from the banks in the conditions of the perception of low risk premiums and increased tolerance towards it under the pressure of increased competition in the sector.