Economy

Albania: IMF Executive Board concludes First Post-Program Monitoring

The Executive Board of the International Monetary Fund (IMF) concluded the First Post-Program Monitoring review for Albania and considered and endorsed the Staff Appraisal on a lapse-of-time basis. Albaniaa��s capacity to repay the Fund is adequate reflecting a strong record of repaying the Fund, relative macroeconomic stability, and progress in reforms. The Albanian economy has continued to strengthen, with real ...

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Minister of Economy, Arben Ahmentaj discusses the fiscal package 2019

The fiscal package 2019 foresees fiscal conveniences in some sectors- declared the Minister of Finance and Economy, Arben Ahmetaj during a meeting with entrepreneurs. The government, through different fiscal initiatives has thought to create conveniences for the business. The energy sector, mainly the solar system and agro-tourism will be the biggest beneficiaries of this package. The first public consult for ...

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EU demands the use of gas as energy source in Albania

Albania needs to have a power exchange and gas must start to be used as soon as possible as an efficient source of energy. These are two of the main demands addressed by the European Union regarding the energy sector. Cited in the 2018-2020 National Plan for European Integration, they have one final goal: To provide Albanian consumers with power ...

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INSTAT: “Exports 10 times higher than energy imports”

Domestic electricity production doubled in the first three months of this year, compared to the same period last year. The Institute of Statistics reports that most of the energy production has been realized by the public power plants of the Drin cascade, at a rate of 65%, while only 35% of the energy production has come from private hydro powers. ...

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IMF: Albania enjoys economic growth, but public debt may slow it down

The Albanian economy continues to strengthen, with real GDP growth at 3.8% during 2017, but it needs to be careful, because public debt may slowdown its progressive growth. This is the new appeal that the International Monetary Fund has issued for Albania in its First Post Monitoring Assessment. a�?Despite the favorable environment and positive short-term outlook, risks and vulnerabilities remain, ...

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Meta to Maltese investors: Albania offers huge potentials and opportunities to foreign business

A� The President of the Republic, Ilir Meta is holding a working visit to Malta in the framework of the “Malta Business Forum -Albania”, accompanied by a delegation of 31 representatives of the Albanian business community of the Chambers of Commerce of Albania, Kosovo and Macedonia. On the first day of the Forum, which was opened by the President of ...

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Oil search in Shpirag: Shell’s project expected to invest billion of Dollars

The conclusion of TAP pipeline and Devoll cascade is expected to bring down the investment by curbing the growth of the economy. But Albania may have an alternative to get out of this situation. It is Shell, the world’s oil giant which has discovered a new oil well in Shpirag. According to Shell’s director in Albania, Rohan D’Souza, if the ...

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Upward tend of import/export with Macedonia

Albania and Macedonia have a high trade flow in the import and export of agricultural products due to their geographical proximity. The promotion and facilitation of trade relations between Albania and Macedonia in the field of agriculture, also in the framework of the implementation of free trade as two member countries of CEFTA, was the focus of a meeting held ...

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Eurostat: Prices in Albania grow faster than in the EU

The increase of prices in Albania continues to be above the average of 1.4% in EU member countries. This is confirmed by the Harmonized Price Index of the European Institute of Statistics, Eurostat. According to this index, the biggest increase of 3% has been registered by a�?Clothing and footweara�? followed by a�?Leisure and culturea�? with 2,7%, a�?Food and non-alcoholic beveragesa�? ...

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January-April 2018 exports underwent an increase of 17%

INSTAT released a report on import/export in Albania. The progressive data show that for the first quarter of the year, exports reached ALL 101 billion, 17% more compared to the same period a year earlier.A�Fossils continue to dominate Albanian exports, with 41% of the total; however, the main contribution in April was boosted by exports of raw materials to the ...

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