The costs of cash

A study carried out by Central Bank and World Bank revealed that the costs of cash available in the economy is 1.7 percent of the GDP. In the report for 2017, Central Bank says that the Albania economy is characterized by a high usage of cash. 99% of accepted payments by businesses are made in cash. 96% of payments done by consumers are in cash as well. Central Bank says that the use of cash in the economy is an overwhelming phenomenon that carries high costs for several actors and the economy. Meanwhile, payments online through internet or mobile phones have increased by 26 percent while the value of these transactions increased by 60%.

Source: Scan TV 

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