Economy

2018 budget, Ahmetaj: Economic growth and public debt reduction

According to the Minister of Finance and Economy Arben Ahmetaj 2018 budget conveys two main messages: high economic growth thatA�brings well-being and significant debt reduction. The government, meanwhile, predicts that this year national production will expand by 4.2%. Revenues in the 2018 budget are estimated at ALL 464.2 billion, or 6.3% more than in the year that we left behind. ...

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INSTAT: Number of foreign tourists arrivals greatly increased

Albania is increasingly attracting foreign tourists. The number of foreign nationals that entered our country in November 2017 was 4,860,226, or 7.8% more, compared to the same period last year. According to the Institute of Statistics (INSTAT), in the eleventh month of 2017, among the countries with the highest number of citizens in Albania, Poland has had the highest increase ...

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Agreement ona�?New Kosovoa�? thermal power plant construction

The government of Kosovo has signed an agreement with US company, Contour Global for the construction of a�?New Kosovoa�? thermal power plant. Based on this agreement, the power plant will have a bloc of 500 megawatts and will cost 1.3 billion euros. Contour Global will secure 30% of the projecta��s value and the loans provided by international financial institutions, by ...

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Tourism boosting economic development

A�Tourism is boosting the Albanian economy obviously.A�The recent figures provided by the Bank of Albania for the period JanuaryA�a�� September shows that revenues generated by this sector turned out to be a��1.3 billion, marking an increase of 13%. In the recent years, revenues from tourism have increased, while last year, they reached a record figure of a��1.5 billion.On the other ...

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Germany supports Albania for the development of the region

Germany helps Albania with around 12.5m Euros. A 6m-Euro grant will be used to support regional economic development through the promotion of youth self-employment and youth investment support. While 6.5m Euros will be used for the rehabilitation of the University of Tirana dormitories in order to increase energy efficiency. The project is expected to be implemented by the Ministry of ...

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INSTAT: Exports rise 13.2%

Albanian companies exported ALL 251 billion of goods in January-November this year. According to INSTAT, compared to the previous year, exports have expanded by about ALL 30 billion, or 13.2%.A�According to the Foreign Trade Report published on Monday by the Institute of Statistics (INSTAT), in the eleven months of this year , exports of goods reached ALL 251 billion, increased ...

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IMF: Upward trend of the Albanian economy

IMF Executive Board concluded consultations on Article IV with Albania and the published report underlines that Albania’s economy continues to be strengthened by benefiting from growing domestic demand, large, foreign direct investment related to energy and an improvement in relations with the key EU trading partners. IMF institution estimates that the government’s clear victory in June elections, the favorable economic ...

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Gjiknuri: Local plans need to be implemented

The development of local plans and their implementation was the core issue under discussion of a forum organized by the Ministry of Infrastructure and Energy in cooperation with the National Territorial Planning Agency. Minister of Infrastructure and Energy Damian Gjiknuri stressed out that planning is the most difficult process, but at the same time, the most important thing. Interaction and ...

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IMF:Tax Administration leapfrogging communication with taxpayers.

Tax AdministrationA�has improved the communication with taxpayers.This is the assessment made by representatives of the International Monetary Fund’s technical assistance mission, who stayed for two weeks at the tax administration.The IMF chaired by Allan Jensen noted that there are a number of positive changes in aspects related to the strategy of the General Tax Directorate, communication with taxpayers and the ...

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INSTAT:Unemployment rate creeps down

The labour market dynamics has responded to the positive developments of the Albanian economy, economic growth, business climate improvement and the fight against informality. Unemployment in the third quarter of 2017 on the country level reached 13.6%, from 18.2% in the first quarter of 2014, according to the Institute of Statistics (INSTAT). As compared with the third quarter of 2016 ...

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