Economy

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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Banking system in Albania reports 12.6 billion ALL worth of earnings in the year to July

Banking system in Albania reported earnings during the month of July. According to the figures issued by the Bank of Albania, progressive profit for the first seven months of the year was 12.6 billion lek, as opposed to 11 billion in the first six months. Meanwhile, compared to the same period last year, profits in the banking system  registered a ...

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International media outlets praise the touristic season in Albania

Tourists flowing towards Albania, one of the most popular destinations of summer 2018, according to the bookings of flights and hotels, writes the prestigious Italian newspaper ‘’il Messaggero’’. The country of the eagles is very much frequented by the Italians. Around 5.7% of Italians have chosen Albania as their favorite destination to pass their vacations. There are more of them ...

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Government priority investments: 143 projects worth 13.7 billion Euros

The Albanian Government  has selected 143 priority public projects through the Strategic Planning Committee, which cost 13.7 billion Euros, according to official sources from the Ministry of Finance. This package, already approved by the Strategic Planning Committee, consists of projects and includes the following sectors: (a) -Transport (road, rail, sea, air); (b) Energy (Broadcasting, Energy Efficiency); (c) Environment (water and ...

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