Economy

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. “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

  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 “Clothing and footwear” followed by “Leisure and culture” with 2,7%, “Food and non-alcoholic beverages” ...

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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. 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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Governor of BoA, Gent Sejko : Albanian economy is on the right track

Albania’s banks are expected to restart lending to the corporate sector, as government attempts to lower non-performing loans and reform the judicial system continue to improve the business environment and raise hopes of a future inside the EU reports TheBanker.com Like many countries in Southern Europe, Albania passed a difficult period caused from the global financial crisis of 2007 and ...

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EU Delegation supports the promotion of touristic potentials of Albania

The EU ambassador to Albania, Romana Vlahutin concluded her visit to Korca, in the framework of the Europe’s Week. ‘’ The preservation of our heritage is related with economy, with social responsibility, but above all with our moral and historic duty towards the previous and upcoming generations’’-declared Ambassador Vlahutin during the event ‘’ A journey through cultural and natural wonders ...

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Euros’ depreciation will have temporary effects, says BoA

Official statement: “The rapid strengthening of the currency value in the period March-April 2018 seemed to have been impacted by transitional shocks. In general, their effects are temporary and they do not have a permanent effect on the economy” A shock, the effects of which will be temporary. This is how the Bank of Albania considered the fluctuations registered in ...

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