Foreign direct investment on upward trend in first quarter of 2018

Foreign direct investment grew by 61.6% in the first quarter of the year compared with the same period a year earlier. The Bank of Albania reported that in January-March foreign companies invested EUR 283 million in the Albanian economy or EUR 108 million more than in the first quarter of 2017. Historical data show that this is the highest level of foreign direct investment recorded in the first quarter since 2008. The bank has not published detailed data on what sectors this money have been invested, but in recent years most of the foreign investments, over 60% of them have been focused on the energy sector, reports TCH. The completion of Transadriatic gas pipeline and Devoll cascade has increased the concerns that foreign investments may be slowed down this year. According to the World Bank, the expected decline in investment will lead to the slowing down of economic growth to 3.6% in 2018 from 3.9 in the previous year. But, at least in the first quarter, according to the Bank of Albania, investments have marked high growth. Foreign direct investments in the Albanian economy culminated in 2016, when they recorded the figure of 942 million Euros, while last year they underwent a slight decrease./Klara Ruci/