Economy

Albania, Kosovo, Montenegro and North Macedonia to benefit 20 billion Euros from EU

The enormous figures that the European Union has planned to spend for different countries around the globe have been made public. Funds that reach billions of Euros have been announced by the pro-Brex group, ‘Fact4EU’. The group has explained the amount that the EU will invest, around 110 billion Euros funds in projects outside the bloc. About 89.2 billion Euros ...

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Customs and tax revenues upward trend through 2019

Customs and tax revenues in the state budget at the end of the first six months of 2019 increased by 8.4 billion ALL. According to the fiscal statistics published by the Ministry of Finance, revenues from customs, taxes, social security and other sectors reached ALL 225.5 billion in the first six months of the year. Compared with the same period ...

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Albanian citizens have significantly increased consumption of beer

In the first 5 months of the year, 1099 tons of tobacco has entered through Albanian Customs for consumption in our country. Import of tobacco has undergone an increase with recording highest figure 242 tons in May, out of 197 tons that were cleared in January. But if we make a comparison over the years, it appears that the first ...

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BoA and WB host Workshop on “Legal Aspects of Governance and Asset Management”

On 15-19 July 2019, the Bank of Albania co-organises with the World Bank Treasury the Workshop on Legal Aspects of Governance and Asset Management. This event brought together representatives from the World Bank Group, the Bank of Albania, central banks from 28 countries and representatives from financial institutions. This workshop focused on dealing with legal issues related with the foreign ...

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Albanian export in the last 5 years

‘Textiles and shoes’ obviously hold the first place in terms of what Albania exports the most. From year to year, according to the Institute of Statistics, the figures have changed considerably. If in 2014 Albania exported 85.9 million ALL to ‘textile and footwear’ groups, in 2019 the value of these export groups was 117.3 million ALL. In 5 years, this ...

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Albania and Canada agreement on emigrants’social protection under ratification

Good news for Albanian emigrants in Canada.The agreement with Canada on the social protection of Albanian emigrants is under the ratification process by the Albanian Parliament. The scheme to be applied includes the employees, the self-employed and their relatives, whose number, according to official data from the Republic of Albania, has reached to 60 thousand. The Social Protection Agreement, between ...

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Eurostat: Albania has had the highest growth rates in the Balkans in the last five years

Albania has had the highest growth rates in the Balkans in the last five years, but net income per capita during this period has risen less than anywhere in the Balkans. According to Eurostat data for the period 2012-2017, Albania’s per capita income increased by 700 euro, from 3300 Euro to 4,000 Euros per capita. The largest net income growth ...

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Horizon Europe Program ready, benefits of Albania

The European Commission is preparing the implementation of the upcoming Horizon Europe program, a well-known EU framework program for research and innovation (2021-2027), with a proposed budget of 100 billion euros. The project, which also includes Albania, like the previous one, will help shape European investment in research and investment in the coming years. Recall that in 2014, Albania signed ...

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Denaj in Western Balkan Summit: Achievements in luring foreign investments

The Minister of Finance and Economy, Anila Denaj attended the Western Balkans Summit for this year. In the section of the Ministerial of the Ministers of Economy, Denaj made a briefing of Albania’s achievements in the field of economy, mainly in luring foreign direct investments, which in 2018 turned out to be 1 billion Euro. The results came thanks to ...

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Deloitte: Albania has the largest oil bearing block in Europe

Known for auditing and fiscal consultancy, “Deloitte”, in the June’s monthly magazine for hydrocarbons, gives special importance to the profile of Albania. It even calls on foreign investors to consider our country in terms of this sector. “Albania offers investment opportunities for multinational oil and gas companies. There is a long history of oil production, operations and active exploration oil ...

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