Economy

Austria recognizes the social insurance contributions and qualifying years of the Albanians

Albanian citizens, who live and work in Austria, will have their social insurance contributions and qualifying years recognized in both countries to get the state pension. The international agreement between the Republic of Albania and the Republic of Austria in the field of social protection was signed in Tirana on 25.01.2017 and enters into force from 1 December 2018, thus ...

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Pm Edi Rama discusses the economic budget of 2019

  Pm Edi Rama declared that the economic budget of 2019 will foresee the decrease of taxes and increase of the wages in education, healthcare and in the army, and the budget will be accompanied by a new social policy. These are some of the pillars of the budget of 2019, that will be realized after the reforms undertaken by ...

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Foreign investments underwent a 27% increase led by Switzerland and the Netherlands

Switzerland and the Netherlands have headed the inflow of new foreign investments in the first six months of this year, according to statistics published by the Bank of Albania. Swiss investments have recorded 194 million Euros for the period January to June 2018, undergoing a doubling compared with the same period last year. From this state, or better from the ...

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Construction sector turning into the country’s economic growth engine

The construction sector grew last year with the highest rates since 2008, following a nearly systematic decline by 2014. According to official data from INSTAT, the construction sector expanded by 10.4% in 2017. Growth rates tripled compared to 2016, approaching the trend after 2005. The peak of construction growth was noticed during 2000-2005, where the sector expanded by an average ...

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INSTAT: 4.4 million tourists visited Albania in January-August 2018

The number of foreign nationals who entered the Albanian territory during August increased by 26.9 % compared with the same period last year.Considering the 8 month period January-August, according to INSTAT data, the number of foreigners has been increased by 16.8 %, in other words, Albania has been visited  by 4,397,638 foreigners. Most visitors have come for tourism.Germany is the ...

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CoE report: Government-approved formula is effective on property compensation

The Committee of Ministers of the Council of Europe has come up with a resolution on the property issue in Albania. The CoE report confirms that the government-approved formula is effective. The Resolution states that Albania has achieved concrete results of high-level of political engagement to ensure the functioning of this mechanism. The Ministry of Justice also announces that compensation ...

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Gas supply: Albania signs a memorandum with FYROM

  Albania and FYROM are entering the final stage of the procurement process for the construction of the 400 kV interconnection line  and this example should also be followed in the gas field. This was confirmed today by the Albanian minister of Energy and Infrastructure, Damian Gjiknuri during the ceremony for the signing of a memorandum of understanding between the ...

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Peleshi: Fisheries 55% export increase more than last year

Minister of Agriculture and Rural Development, Niko Peleshi visited a fish processing plant “Mare Adriatik” in Bushat, Shkodra district. This giant investment, which operates with modern technology and has its beginnings during the years ’95 and today marks 500 workers producing for export to the EU. According to Minister Peleshi this sector is one of the most vanguard sectors in ...

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Albania ranks third in Europe for electricity production from renewable sources

Albania ranks third in Europe after Norway and Iceland for electricity production from renewable sources, with a percentage of 86 percent of total output in 2016, confirms Eurostat. Based on official statistics, this level is higher than the European Union average (EU), where the production of electricity from renewable sources contributed to 30 percent of total electricity consumption during 2016. ...

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State the largest employer, only 23% of new jobs were generated by the private

In the first six months of the year, the Albanian economy generated 14.4 thousand new jobs, but only 23% of them, or about 3,274 new jobs, were created in the private sector. Much of the 6200 jobs, or 43%, were provided by the state sector and 34% (4,950) were generated by agriculture. According to INSTAT data referring to administrative resources ...

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