Treguesi i Mas\u00ebs Monetare M3, u rrit me rit\u00ebm shum\u00eb t\u00eb shpejt\u00eb gjat\u00eb pjes\u00ebs s\u00eb dyt\u00eb t\u00eb vitit 2025 si dhe n\u00eb dy muajt e par\u00eb t\u00eb k\u00ebtij viti, duke sinjalizuar rrezikun p\u00ebr inflacion t\u00eb lart\u00eb. Por inflacioni, s\u00eb paku sa i p\u00ebrket Indeksit t\u00eb \u00c7mimeve t\u00eb Konsumit t\u00eb matur nga INSTAT, nuk shfaqet ende n\u00eb nivele shqet\u00ebsuese.<\/p>\n
Dyfish kundrejt rritjes ekonomike<\/strong><\/p>\n Sipas t\u00eb dh\u00ebnave t\u00eb Bank\u00ebs s\u00eb Shqip\u00ebris\u00eb, Masa Monetare M3 u rrit n\u00eb terma vjetor\u00eb me 10.2% n\u00eb dhjetor 2025. N\u00eb t\u00eb nj\u00ebjt\u00ebn periudh\u00eb, Indeksi i \u00c7mimit t\u00eb Konsumit u rrit me 2.2% nd\u00ebrsa Prodhimi i Brendsh\u00ebm Bruto, n\u00eb terma nominal\u00eb, sipas t\u00eb dh\u00ebnave t\u00eb Ministris\u00eb s\u00eb Financave u rrit me 4.95%. N\u00eb teorin\u00eb monetariste, t\u00eb hartuar pes\u00eb dekada m\u00eb par\u00eb nga Milton Friedman, nj\u00eb rritje e mas\u00ebs monetare n\u00eb nivelin 10%, kundrejt rritjes ekonomike 5%, do t\u00eb kishte shkaktuar rritje t\u00eb inflacionit. Kjo, p\u00ebr aq sa i takon statistikave zyrtare, rezulton nj\u00eb teori e gabuar. Nd\u00ebrsa paraja n\u00eb qarkullim rritet me dyfishin e norm\u00ebs s\u00eb rritjes ekonomike, kjo para shtes\u00eb n\u00eb qarkullim sipas INSTAT, nuk shkakton inflacion.<\/p>\n Inflacion asetesh apo ekonomia e t\u00eb pasurve<\/strong> Reputacioni i INSTAT si institucion profesional nuk \u00ebsht\u00eb i fort\u00eb. Si \u00e7do institucion n\u00ebn qeverisjen aktuale, edhe imazhi i institucionit n\u00eb fjal\u00eb d\u00ebmtohet nga praktika e partitizimit t\u00ebr\u00ebsor t\u00eb shtetit dhe p\u00ebrdorimit t\u00eb pun\u00ebsimeve n\u00eb shtet p\u00ebr mbledhje votash. Por fakti \u00ebsht\u00eb q\u00eb, sido q\u00eb t\u00eb mund t\u00eb hamend\u00ebsohet, nuk ka nj\u00eb alternativ\u00eb ndaj INSTAT. Nuk ka nj\u00eb institucion tjet\u00ebr n\u00eb gjendje p\u00ebr t\u00eb b\u00ebr\u00eb nj\u00eb matje alternative t\u00eb inflacionit.<\/p>\n Anomalia mbetet e pazgjidhur n\u00eb k\u00ebt\u00eb drejtim. Shqip\u00ebria \u00ebsht\u00eb vendi ku paraja n\u00eb qarkullim \u00ebsht\u00eb rritur shum\u00eb m\u00eb shpejt se sa ekonomia dhe kjo nuk ka shkaktuar, si\u00e7 mund t\u00eb pritet nga \u00e7do ekonomist, inflacion.<\/p>\n Masa Monetare M3 \u00ebsht\u00eb treguesi statistikor q\u00eb p\u00ebrmbledh t\u00eb gjith\u00eb paran\u00eb n\u00eb qarkullim, p\u00ebrfshir\u00eb paran\u00eb fizike n\u00eb monedha dhe kart\u00ebmonedha q\u00eb mban\u00a0 n\u00eb xhep \u00e7do qytetar, paran\u00eb n\u00eb depozita bankare n\u00eb lek\u00eb apo n\u00eb monedha t\u00eb tjera, si dhe paran\u00eb t\u00eb mbajtur n\u00eb tituj borxhi, qofshin k\u00ebto t\u00eb qeveris\u00eb apo t\u00eb korporatave private. Sipas t\u00eb dh\u00ebnave t\u00eb BSH, M3 n\u00eb dhjetor 2025 ishte af\u00ebrisht 1.97 trilion\u00eb lek\u00eb ose rreth 20 miliard\u00eb euro. N\u00eb krahasim me dhjetorin e vitit 2024, M3 \u00ebsht\u00eb rritur me 137 miliard\u00eb lek\u00eb ose 10.2%. Gjat\u00eb t\u00eb nj\u00ebjt\u00ebs periudh\u00eb, Prodhimi i Brendsh\u00ebm Bruto, ose sasia e vler\u00ebs s\u00eb shtuar q\u00eb puna e \u00e7do shqiptari ka krijuar, arriti n\u00eb 2.64 trilion\u00eb lek\u00eb, me nj\u00eb rritje vjetore prej m\u00eb pak se 5%.<\/p>\n Paraja n\u00eb ekonomin\u00eb komb\u00ebtare \u00ebsht\u00eb di\u00e7ka e ndryshme nga paraja n\u00eb jet\u00ebn qytetar\u00ebve. N\u00eb ekonomin\u00eb komb\u00ebtare \u00ebsht\u00eb nj\u00eb mjet, i cili prodhohet pothuajse pa kosto nga banka qendrore dhe vihet n\u00eb dispozicion t\u00eb ekonomis\u00eb. Nd\u00ebrsa n\u00eb jet\u00ebn e qytetar\u00ebve paraja \u00ebsht\u00eb diferenca mes t\u00eb qenit i pasur dhe t\u00eb qenit i varf\u00ebr. Sasia e paras\u00eb s\u00eb prodhuar nga autoriteti q\u00eb e emeton monedh\u00ebn varet nga madh\u00ebsia e ekonomis\u00eb. BSH nuk mundet t\u00eb prodhoj\u00eb para p\u00ebr t\u2019i b\u00ebr\u00eb t\u00eb gjith\u00eb qytetar\u00ebt e pasur sepse, n\u00eb k\u00ebt\u00eb rast, paraja thjesht\u00eb\u00a0 do t\u00eb b\u00ebhej nj\u00eb let\u00ebr pa vler\u00eb. Rrjedhimisht, kur ekonomia rritet me 5% n\u00eb terma nominal\u00eb, masa monetare, pra paraja q\u00eb i sh\u00ebrben k\u00ebsaj ekonomie, mundet t\u00eb rritet me t\u00eb nj\u00ebjt\u00ebn mas\u00eb.<\/p>\n N\u00eb fakt ka nj\u00eb shpjegim p\u00ebr k\u00ebt\u00eb anomali dhe ky shpjegim \u00ebsht\u00eb inflacionimi i aseteve dhe ekonomia e t\u00eb pasurve. Por para se t\u00eb mb\u00ebrrijm\u00eb k\u00ebtu duhet t\u00eb v\u00ebrejm\u00eb nj\u00eb anomali tjet\u00ebr, gjithashtu shum\u00eb t\u00eb fort\u00eb, q\u00eb ekonomia ka shfaqur gjat\u00eb vitit 2025.<\/p>\n Depozitat rriten m\u00eb shpejt se sa PBB<\/strong><\/p>\n Gjat\u00eb vitit 2025, depozitat e qytetar\u00ebve dhe t\u00eb bizneseve n\u00eb bankat e nivelit t\u00eb dyt\u00eb n\u00eb Shqip\u00ebri arrit\u00ebn n\u00eb af\u00ebrsisht 1.9 trilion\u00eb lek\u00eb. Rritja n\u00eb krahasim me vitin\u00a0 2024 ishte n\u00eb mas\u00ebn 8.5% ose 148 miliard\u00eb lek\u00eb. P\u00ebrve\u00e7 faktit q\u00eb rritja e depozitave \u00ebsht\u00eb m\u00eb e madhe se sa rritja e Prodhimit t\u00eb Brendsh\u00ebm Bruto n\u00eb vler\u00eb nominale, pra q\u00eb do t\u00eb thot\u00eb q\u00eb nj\u00eb pjes\u00eb e konsiderueshme e rritjes s\u00eb depozitave ka ardhur nga jasht\u00eb ekonomis\u00eb formale, fakti \u00ebsht\u00eb q\u00eb disa banka t\u00eb mesme jan\u00eb p\u00ebrfitueset kryesore t\u00eb rritjes s\u00eb depozitave. FIBank, ABI Bank dhe Tirana Bank udh\u00ebheqin tregun sa i p\u00ebrket rritjes s\u00eb depozitave. K\u00ebto banka kan\u00eb njohur rritje t\u00eb depozitave me 20, 17 dhe 18% n\u00eb terma vjetor\u00eb. Nd\u00ebrsa bankat tradicionalisht t\u00eb njohura p\u00ebr sh\u00ebrbime p\u00ebr popullsin\u00eb e gjer\u00eb, si IntesaSanpalolo, Raiffeisen apo BKT, jan\u00eb q\u00eb t\u00eb gjitha t\u00eb kufizuara te shtimi i depozitave n\u00eb ritmin e 4, 5 apo 7 p\u00ebr qind.<\/p>\n Fakti q\u00eb depozitat e bankave q\u00eb kan\u00eb num\u00ebr relativisht t\u00eb kufizuar klient\u00ebsh jan\u00eb rritur me rit\u00ebm t\u00eb lart\u00eb, nd\u00ebrsa ato me num\u00ebr t\u00eb lart\u00eb klient\u00ebsh, jan\u00eb rritur me rit\u00ebm normal, sugjeron se depozitat shtes\u00eb i p\u00ebrkasin nj\u00eb numri t\u00eb vog\u00ebl klient\u00ebsh. Dhe n\u00ebse \u00ebsht\u00eb k\u00ebshtu, (Shqip\u00ebria nuk grumbullon dhe analizon t\u00eb dh\u00ebna p\u00ebr t\u00eb matur probleme t\u00eb tilla si pabarazia k\u00ebshtu q\u00eb ne mundemi vet\u00ebm t\u00eb hamend\u00ebsojm\u00eb mbi t\u00eb dh\u00ebna t\u00eb raportuara p\u00ebr q\u00ebllime t\u00eb tjera), at\u00ebher\u00eb shtesa e depozitave dhe shtesa e mas\u00ebs monetare M3, nuk ka pse t\u00eb shkaktoj\u00eb inflacion te Indeksi i \u00c7mimeve t\u00eb Konsumit, sepse kjo shtes\u00eb nuk i p\u00ebrket popullsis\u00eb s\u00eb gjer\u00eb. Kjo mundet t\u00eb shpjegoj\u00eb gjithashtu se pse \u00e7mimet e aseteve, t\u00eb cilat nuk maten nga INSTAT, t\u00eb tilla si pronat e patundshme, jan\u00eb shtrenjtuar me rit\u00ebm shum\u00eb m\u00eb t\u00eb shpejt\u00eb se sa rritja ekonomike tashm\u00eb prej shum\u00eb vitesh.<\/p>\n Gjithsesi, gjasat jan\u00eb q\u00eb kanalizimi i paras\u00eb shtes\u00eb te pronat e patundshme dhe inflacionimi i \u00e7mimeve t\u00eb k\u00ebtyre aseteve \u00ebsht\u00eb vet\u00ebm nj\u00eb rrug\u00eb indirekte para se parat\u00eb shtes\u00eb t\u00eb kalojn\u00eb te inflacioni i p\u00ebrgjithsh\u00ebm.<\/p>\n Rritja e mas\u00ebs monetare M3 gjat\u00eb vitit t\u00eb kaluar p\u00ebrkon n\u00eb nj\u00eb mas\u00eb t\u00eb madhe me kalendarin e blerjes s\u00eb valut\u00ebs nga Banka e Shqip\u00ebris\u00eb p\u00ebr t\u00eb shmangur forcimin e lekut. Banka e Shqip\u00ebris\u00eb bleu 729 milion\u00eb euro n\u00eb treg \u201cp\u00ebr frenimin e forcimit t\u00eb lekut\u201d gjat\u00eb vitit 2025, por 435 milion\u00eb nga k\u00ebto u blen\u00eb n\u00eb korrik dhe gusht. Rrjedhimisht, ritmi i rritjes s\u00eb M3, k\u00ebrciti nga 6-7% q\u00eb ishte n\u00eb pjes\u00ebn e par\u00eb t\u00eb vitit, n\u00eb mbi 10% n\u00eb muajt pasues.<\/p>\n Duksh\u00ebm, nj\u00eb shum\u00eb e madhe parash q\u00eb hyn n\u00eb ekonomin\u00eb shqiptare p\u00ebrmes kanaleve jo t\u00eb identifikuara konkretisht dhe q\u00eb nga shum\u00eb dyshohet se vijn\u00eb nga aktivitetet kriminale t\u00eb shqiptar\u00ebve jasht\u00eb vendit, po hyjn\u00eb n\u00eb ekonomi, po hyjn\u00eb me forc\u00eb dhe po shkaktojn\u00eb inflacion. Fillimisht inflacion t\u00eb aseteve dhe pastaj, inflacion t\u00eb mallrave t\u00eb konsumit. Nuk \u00ebsht\u00eb e v\u00ebshtir\u00eb t\u00eb dallosh nj\u00eb lidhje jo fort t\u00eb t\u00ebrthort\u00eb mes parave t\u00eb drog\u00ebs dhe \u00e7mimit t\u00eb domateve.\/BIRN<\/a><\/p>\n The post BIRN: Kontradikta shqiptare me rritjen e paras\u00eb n\u00eb qarkullim dhe inflacionin<\/a> appeared first on Lapsi.al<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Treguesi i Mas\u00ebs Monetare M3, u rrit me rit\u00ebm shum\u00eb t\u00eb shpejt\u00eb gjat\u00eb pjes\u00ebs s\u00eb dyt\u00eb t\u00eb vitit 2025 si dhe n\u00eb dy muajt e par\u00eb t\u00eb k\u00ebtij viti, duke sinjalizuar rrezikun p\u00ebr inflacion t\u00eb lart\u00eb. Por inflacioni, s\u00eb paku sa i p\u00ebrket Indeksit t\u00eb \u00c7mimeve t\u00eb Konsumit t\u00eb matur nga INSTAT, nuk shfaqet ende […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-81193","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/posts\/81193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/comments?post=81193"}],"version-history":[{"count":0,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/posts\/81193\/revisions"}],"wp:attachment":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/media?parent=81193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/categories?post=81193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/tags?post=81193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nQytetar\u00ebt dhe disa politikan\u00eb po ankohen k\u00ebto dit\u00eb p\u00ebr \u00e7mimin e domateve dhe \u00e7mime t\u00eb tjera t\u00eb mallrave t\u00eb domosdoshme. Ankesat e tyre duket se jan\u00eb t\u00eb pamb\u00ebshtetura, n\u00ebse shohim se inflacioni i mallrave t\u00eb matura nga INSTAT, nuk jep kurrfar\u00eb t\u00eb dh\u00ebne p\u00ebr t\u00eb shkaktuar alarm. Sipas t\u00eb dh\u00ebnave t\u00eb INSTAT, inflacioni mesatar gjat\u00eb vitit t\u00eb kaluar ishte 2.2%. Inflacioni i zarzavateve, p\u00ebr t\u00eb cilat d\u00ebgjohen edhe ankesat m\u00eb t\u00eb m\u00ebdha, \u00ebsht\u00eb zyrtarisht 2.5%. Kjo do t\u00eb thot\u00eb q\u00eb, ose INSTAT e ka matur gabim inflacionin e zarzavateve, ose ankesat jan\u00eb t\u00eb pamb\u00ebshtetura n\u00eb arsye reale.<\/p>\n