Economy

Export to EU countries upward trend

 Trade exchanges with EU countries in January-October accounted for 64.2% of all trade. The Institute of Statistics, INSTAT, released on Monday a report on foreign trade, according to which exports to EU countries account for 76.4% of total exports and imports from EU countries account for 58.5% of total imports. The main trading partners turn out to be Italy with ...

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Bank of Albania predicts wage growth due to labor shortage pressures

Wages in the economy are expected to grow at a faster pace in the coming years due to structural changes in the labor market. The high demand for employment in some sectors as the workforce has stopped growing will create the conditions for wage increases in the coming years. The Bank of Albania predicts that, therefore, inflation over the medium ...

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Automotive industry upward trend

At the end of September, exports of machinery, equipment and spare parts, which also include automotive products, jumped to ALL 16.5 billion, or EUR 134 million. This value is 45% higher than the total of 2018, when exports in this group were at the level of ALL 11 billion. Although we are dealing with a total increase in a group, ...

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Denaj: Competitiveness increase important for economy

The Minister of Finance and Economy, Anila Denaj, was present at the conference organized by the Albanian Manufacturers Convention on “Increasing the competitiveness of Made in Albania products”. During her speech, Minister Denaj emphasized some of the key elements that influence the increase of business competitiveness, such as: business adaptability to technological developments, a very important factor to increase productivity ...

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“Albania works the land “is the fair organized at “Skanderbeg” square

“Albania works the land “is the fair organized at “Skanderbeg” square where farmers from all over the country and entrepreneurs in the field of agribusiness have exhibited their products in the heart of Tirana. Prime Minister Rama appreciated the colossal changes that are taking place in the field of agriculture. The Minister of Agriculture and Rural Development, Blendi Cuci, also ...

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Former minister of economy Ahmetaj discusses the Draft Budget for 2020

The economy commission opened discussions on next year’s draft budget.  Former Finance Minister Arben Ahmetaj, currently chairman of the economy commission, expressed reserves  on some indicators of the draft budget, starting with projections of economic growth. The public investment portfolio was another indication of which Ahmetaj demanded an account, as finances forecast 30m euros less investments in public works for ...

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PM Edi Rama: Chinese tourists will not need visas for the ”Balkan Schengen”

Pm of Albania, Edi Rama, participated in a ceremony on the occasion of the 70th anniversary of the relations between Albania and China, praising Beijing as the second trade partner after EU. He declared that the cooperation between the two countries should increase, respecting the approach of each other. The head of the government declared that with the ‘’Balkan Schengen’’, ...

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Global Forum on Private Pensions kicks off its proceedings in Tirana

The Global Forum on Private Pensions “Developing and Supervising Pension Fund Arrangements” kicked off it proceedings this Thursday in Tirana. The forum is organized by the Financial Supervisory Authority, in collaboration with the International Organization for Pension Supervisors (IOPS) and the Organization for Economic Co-operation and Development (OECD). The largest forum for financial markets ever held in Albania is attended ...

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Ministry of Finance: Negotiations on the social protection of Albanian citizens living and working in Bulgaria

The Ministry of Finance announces that the first round of negotiations on the social protection of Albanian citizens working and living in Bulgaria and vice versa benefiting from the agreement between the two countries, has started. “Deputy Minister of Finance and Economy Ms. Dayna Sorensen and Director of the Social Insurance Institute Astrit Hado are holding regular meetings with representatives ...

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“Black Diamond” apple can be grown in Albania

The very rare “Black Diamond” apple in the world for its high nutritional values can be cultivated and grown in Albania. It is a rare variety currently only grown in the mountains of Tibet. Farmer Zija Keshi in May this year experimented with the cultivation of this variety by cultivating only 10 saplings from Tibet. During this month, he tells ...

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