Economy

The Bank of Albania will issue a bond worth 120m euros

The Bank of Albania has announced that in the next auction it will issue a bond worth 120 million euros, with a maturity of 2 years. The bond is issued on behalf of the Albanian government, which this time is borrowing in euros, trying to secure it from financial institutions, or individuals and others. The required amount is a record ...

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EBRD report assesses Albania’s resilience to cope with COVID-19 pandemic

The European Bank for Reconstruction and Development (EBRD) has developed a new monitor to assess the ability – or otherwise – of emerging economies across its regions to withstand the impact of COVID-19 pandemic. The coronavirus is placing countries’ health care systems under unprecedented strain, while domestic containment measures are weighing on both supply and demand. The EBRD has unveiled 1 ...

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Cuci: Export undergoes an increase of 18% as compared to 2019

Speaking about the situation of agriculture in quarantine time, the Minister of Agriculture, Bledi Cuci, stated that there is an increase in exports compared to 2019. Cuci stressed that agriculture has not stopped producing, adding that farmers and stockbreeders carry on their work. “I received the export report today and I saw that there are 18 percent more exports than ...

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COVID-19 affects at least 40% of GDP; How long can Albanian businesses resist?

The damage to be caused by economic chain breakdown and consumption restraint is expected to be huge. It all stopped at once. Movement was limited, most stores were closed, a large number of employees were forced to work from home. The activity is almost blocked in the country, bringing about economic chains, lack of liquidity that, if sustained, could jeopardize employee ...

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Imports with China / February marks the highest value

The outbreak of Covid-19 in China earlier this year seems to have not affected our country’s trade flows with the world’s second-largest economy. Despite the fact that the January data signaled a slight slowdown, the February data appear to refute this hypothesis. The February data thus indicate an increase in China’s monetary value imports, not only in monthly terms, compared ...

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MF: Earthquake and Covid-19 will slow down Albania’s economy

Our country’s economy will slow significantly due to the effects of the November 26 earthquake and now Covid 19, the International Monetary Fund reported in an official statement. An International Monetary Fund (IMF) team, led by Jan Kees Martijn, remotely completed additional discussions with Albania in consultation with Article IV 2019. The first round of these discussions was held in ...

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Denaj: Amnesty targets the economy formalization

Finance Minister Anila Denaj says the fiscal and panel amnesty for Albanians aims to formalize the economy. “This initiative is for all businesses that have no political background. There will be a difference between those who have worked and those who have committed with or without reporting illegal activity, this will be well-marked.We will have the support of international experts, ...

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Sejko at IMF and WB meetings: Country’s economic and financial sustainability indicators remain solid

Despite the slowdown in economic growth rates in 2019, the country’s economic and financial sustainability indicators remain solid, Governor Gent Sejko said at the International Monetary Fund and World Bank Group’s Constituent Meeting. “Employment and wages have risen, the unemployment rate hit a historic low, the external position of the economy has improved, the budget deficit remains controlled and public ...

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Rail freight transport upward trend in January

Rail freight transport had a positive turn in January. According to the latest report of the Institute of Statistics, in January 2020, the volume of goods transported by rail has increased by 30% compared to January 2019, being also the largest increase for the first month of the year, compared to the other freight transport. INSTAT shows that in January ...

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Denaj: Infrastructure projects, development instrument and economic integration in the EU

Minister of Economy and Finance Anila Denaj is attending the EBRD’s Western Balkans Investment Summit in London discussing joint regional projects for the development of the Balkans. “With Prime Minister Edi Rama at the EBRD’s Western Balkans Investment Summit, to talk about the Balkans as a common regional market, a market that attracts new investors and brings innovation to all ...

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