Economy

EBRD provides 218 million Euros loan for debts restructuring

The European Bank for Reconstruction and Development officially announced that the Albanian side has met all the conditions to make the loan agreement between this bank and Albanian Power Corporation effective. The agreement is worth 218 million Euros, and was signed on 30 June 2016 targeting the old debts restructuring. The news was confirmed by the Minister of Infrastructure and ...

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Albania-Iran Business Forum, cooperation opportunities

The Union of Chambers of Commerce and Industry of Albania, in cooperation with the Embassy of the Islamic Republic of Iran in Albania, will organize on 25 of April 2018, the Business Forum “Albania-Iran” in the premises of Tirana International Hotel. In this forum, which will be organized under the auspices of the Ambassador of the Islamic Republic of Iran Gholamhossein Mohammadnia ...

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Export boom in the first 3 months, EUR 95 million

Albanian exports grew by about EUR 95 million in the first three months of the year compared with the same period last year. Official statistics from the Institute of Statistics show that for the period January to March, Albanian companies sold EUR 572 million of goods to foreign markets, or nearly 19 % more than a year earlier. According to ...

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IMF:Expectations for Albania's economic growth in 2018 remain unchanged at 3.7%

Albania has recorded a growth rate of its economy at 3.9 percent over the previous year. This is the assessment of the International Monetary Fund, which yesterday presented the Global Economic Outlook report yesterday in Washington. According to this report, expectations for Albania’s economic growth in 2018 remain unchanged at 3.7%. In last October’s report, the IMF had lowered expectations ...

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BoA: Economic sentiment indicator grew by 3.7 percentage points in the first quarter of the year

The economic sentiment indicator, which measures business and consumer confidence in the country’s economy, grew by 3.7 percentage points in the first quarter of the year. Referring to the Bank of Albania survey, the growth of confidence in the economy during the January-March period came mainly from businesses, while the perception of consumers for the economy has deteriorated. The findings ...

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Minister Klosi: 2018 will be a successful year for tourism

For the first time, 84 touristic operators form 46 countries of the world gathered in Tirana, for purchasing touristic packages from the Albanian operators. Present at the inaugural  ceremony was the Minister of Tourism  and Environment, Blendi Klosi. In his speech ,Minister Klosi declared that 2018 will see a great touristic development, because of the increase of the interest of ...

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Albania posts annual inflation of 2% in March

Albania posted annual inflation of 2% in March, after consumer prices rose by 2.1% y/y a month earlier, statistics office data showed on April 10. In line with the central bank’s assessments, annual inflation is expected to hover around 2.2% in 2018 and converge to the central bank’s target in 2019. Previously, the Albanian central bank expected to reach the ...

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VAT scheme, Ahmetaj: There has been no price increase so far

  Minister of Finance and Economy, Arben Ahmetaj in a press release today informed citizens and small business about the purpose and the impact of small business involvement in the VAT scheme. Ahmetaj said that the opposition’s statements on price increases are fake. According to Minister Ahmetaj VAT has been and will remain in the final price of any formalized ...

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Traders close rolling shutters in protest against VAT scheme

Small business in Tirana, as warned, protested against the new VAT scheme. They refuse to pay Value Added Tax, a scheme in which they entered since April 1. It was a one- hour protest, held in not only Tirana but also in other cities in the country. Small businesses have closed the rolling shutters in protest against the inclusion in ...

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BoA report: Albanian economy grew by 3.8% in annual terms

The Governor of the Bank of Albania, Gent Sejko presented to the Committee on Economy and Finance the Annual Report of the Bank of Albania for 2017. He emphasized that the year that we left behind has been a year of progress for the economy and for the Albanian financial system. According to INSTAT data: the Albanian economy grew by ...

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