Mehmeti: Kosovo citizens have about four billion euros in savings

Today, the World Savings Day is a milestone set up to raise public awareness of the importance of savings for both modern and individual economies. Savings are important in the global economy, and any depositors contribute to their development.

Central Bank of the Republic of Kosovo Governor Fehmi Mehmeti said they have done much work to increase awareness of savings. We have made arrangements with the Ministry of Education to have financial education in Kosovo schools, and that is very important. The books that we have published are in four languages, and we also have the books voice”, Mehmet stressed today in RTK.

He has invited children to apply in the essay contest. The key to this paper is for children to read a little bit about savings and management of money”, he said.

For the banking sector, Mehmeti said he is one of the main pillars in Kosovo's economy. For the situation we find ourselves in, at this time of pandemic, Mehmeti said this pandemic has affected Kosovo. “Diasspora is contributing to Kosovo, only coming from Switzerland of envoys positively contributed”, he said.

Mehmeti said that Kosovars now have savings of up to four billion. “Banks do not need to take out vehicles, as they have enough deposits”, he said.

Central Bank of the Republic of Kosovo Governor Fehmi Mehmeti said banks should improve the loan bid. “We have good co-ordination with banks, we have taken measures to maintain financial stability”, he said.

According to him, the CEC during the pandemic era has taken action and decisions that have made it easy for the citizens of the country, one of the decisions has been for loans to delay the unfaithfulness and restructuring of loans. Our expectations have been to have an increase of bad loans”, he said.

Mehmeti suggested they have been available to support the government for laws. “We have very good co-operation with the Kosovo government”, he said.

For economic recovery, Mehmet expects us to have positive moves in the coming year. Kosovo must change the structure of economy”, he said.

World Savings Day History

Otherwise World Savings Day was created on October 31, 1924, during the first International Congress of Savings Banks in Milan, Italy to inform people worldwide that they can put their money in the bank to save instead of keeping them under mattress. There were several examples of days that devoted themselves to the idea of saving money to gaining a higher standard of life and ensuring the economy. For example, the first national savings day was celebrated in 1921.

After World War II, World Savings Day continued and reached its peak in 1955-1970. It became a true tradition in several countries. In some other countries, however, such as Germany, the trust of people in savings had to be restored because many people did not even think of saving themselves because they had lost almost everything in German monetary reform in 1923.

For more than 90 years, the World Institute of Savings and Banking Minorities (ËSBI) and its members have led a dedicated day each year to promote the virtue of money saving people. Called World Savings Day, it was the first initiative of ILBI, the voice of savings in close to 80 countries, the day remains important for members actively engaged in celebrations in their local areas. World Savings Day is celebrated worldwide.