Economy

Talks on Cooperation for the Development between Albanian and German Governments

Talks on Cooperation for the Development between the Government of the Republic of Albania and the Government of the Federal Republic of Germany were finalized today, chaired by Minister of Finance Arben Ahmetaj and Dirk Schattschneider. The protocol summarizes the financing commitments of the German government in the form of financial cooperation (loans and grants from KfW) as well as ...

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Sejko: Public debt is declining steadily

Gent Sejko, Governor of the Bank of Albania, stated at a press conference on closing the International Monetary Fund (IMF) mission in Tirana that “public debt is declining steadily”.”Structural reforms in Albania need to be followed. Budget deficit is low and debt is declining. The country’s development bases remain solid, while improving the financial system development, “Sejko said.Meanwhile IMF representatives ...

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Albanian exports to UK have reached the highest monthly historic level

Albanian exports to the United Kingdom have reached the highest monthly historic level, at about ALL 312 million.Growth is significant, as it does not only speak of historic record but also a 13-fold increase compared to October last year, when exports were only ALL 24 million.This year in May the record was 122 million ALL. Data from INSTAT and the ...

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Opening the negotiations with EU ,an important aspect of the economic development of Albania

The governor of the Bank of Albania, Gent Sejko, during the conclusion of the mission of International Monetary Fund, spoke about important reforms in the economic sector, emphasizing as a priority the membership of Albania into the European Union. According to governor Sejko, the opening of the negotiations with the European Union should be seen as an instrument for further ...

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EBRD: Albania should pursue reforms in key sectors

Albania should pursue reforms in key sectors, the European Bank for Reconstruction and Development (EBRD) said on its Transition Report 2018-2019. According to the Bank, short-term the priorities are to further liberalize the market, enforce payment discipline in state-owned companies, and improve the regulatory framework to ensure cost-reflective tariff-setting. Another key priority is related to the transparency of infrastructure projects. ...

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INSTAT: Albanian birth rates decline as compared to death rates, a blow expected to be given to the economy

According to the recent report published by the Institute of Statistics (INSTAT) there has been a downward trend in the fertility rate across Albania during the third quarter of 2018. The death rate has surpassed the birth rate, resulting in fewer births. Under these circumstances the Albanian government will offer cash incentives in the coming year to parents in order ...

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Business and consumer confidence in the economy fall

Citizens of this country have less confidence in the economy. Both consumers and businesses are proving to be less optimistic about the future of their finances. Such is the conclusion of the Bank of Albania in the Consumer and Business Confidence Report. “Confidence in the economy has seen a drop of 4% in the third quarter of this year”, the ...

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New budget foresees wage increase for the Armed Forces

Pm Edi Rama declared that there will be an increase of wages for Albanian military, starting with 19% for the wages of the soldiers. ‘’ After being forgotten for many years by the financial evaluation,  we will increase their payment for everyone at the Armed Forces , a considerable increase ‘’ – declared Rama. During the work for the draft ...

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Rama: Vlora to undergo huge investments

Prime Minister Edi Rama made the presentation of the 2019 budget in the city of Vlora highlighting that we will now work to have tourism in Albania every season of the year. Rama added that the coastal city of Vlora will undergo a huge transformation through road infrastructure, but not only.He stated that the infrastructure budget is purposely presented in ...

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European Commission forecast: Albania’s economic growth, 4.1%

The European Commission said on Thursday that it increased the forecast for Albania’s economic growth this year to 4.1% from 3.6% expected in May. Economic growth is expected to be stable, driven mainly by consumption. The real growth of national output will be reduced to 3.9% in 2019 and the following year, due to the low level of energy production and ...

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