Economy

Investments from EU countries in Albania turn out to be 5.45 billion Euros, the highest in the region

The stock of foreign direct investment from European Union countries to Albania at the end of 2017 amounted to 5.45 billion euros, according to statistics published in the Eurostat data system. After reaching 2015, at the highest level of 5.9 billion euros, stock has fallen slightly over the next two years. Compared to Gross Domestic Product (GDP), EU investments in ...

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INSTAT: Exports “made in Albania” marked a positive performance during the 11-month period of 2018

Exports “made in Albania” marked a positive performance during the 11-month period of 2018, reflecting the positive growth trend of the oil, minerals, and spare parts sectors. INSTAT announced that for January-November exports totaled 289 billion ALL, an increase of 15% compared to the same period of the previous year.Textiles and shoes lead the Albanian exports, with ALL 115 billion, ...

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INSTAT: The expense of Albanians travelling abroad reached to 1.1 billion Euros for the first 9-month period

The Albanian economy benefited nearly 1 billion and a half euro of gross income from tourism in the first nine months of the year. Official figures from the Bank of Albania indicate that this year tourism continued to expand at two-digit pace, being one of the most dynamic sectors of the economy. According to the data released in the balance ...

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Employment of young people increased by 2.3% in the third quarter of 2018

The number of employed people 15 and over nationwide has increased by 2.3% in the third quarter of 2018, compared to the same quarter a year earlier. INSTAT announced that, during this quarter, the employment rate for the population aged 15-64 is 59.7%. The annual growth rate of employment for the population of 15 years and over, from the third ...

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2019 budget envisages an economic growth of 4.3% of GDP

The 2019 budget envisages an economic growth of 4.3% of Gross Domestic Product. Meanwhile, for 2019, an increase in employment with over 30,000 employees is predicted, while unemployment is projected to fall to 12%. Over the past 4 years, unemployment has marked a significant decrease. In 2014 unemployment was 17.9%, in 2015 it was 17.5%, in 2016 it was 15.6%, ...

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Ahmetaj: 65 000 employees in all major sectors will have a pay rise

Minister of Finance and Economy, Arben Ahmetaj, spoke yesterday about the 2019 state budget. He said that with the new budget there will be a pay rise in all major sectors and over 65 thousand employees will benefit from it. “The budget finances the justice reform and all other reforms that we have launched together and today we are yielding the ...

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Konfindustria backs up Kosovo’s Decision on 100% Taxes for Serbian Goods

Konfindustria backs up the recent decision of the Kosovo government on the increase of taxes on imports of Serbian goods from 10 to 100%. According to Konfindustria a the major part of the products equipped with a Serbian certificate of origin are subsidized. Further on the Confederation of Albanian Industries highlights that one of the clearest examples of Serbia’s unfair practices is ...

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EBRD: Albanians will need at least 500 USD a month in order not to leave the country

In order for Albanians not to leave the country, their salaries must be at least 500 USD a month. This was the conclusion of a recent report by the European Bank for Reconstruction and Development (EBRD), according to which, emigration is a phenomenon which is present in poor and developing countries, but in Albania, the number of people leaving the ...

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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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