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Albania’s Inflation Hit 11-Years High in December
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Albania’s Inflation Hit 11-Years High in December

TIRANA, January 12 The consumer price index was 103.7 points in December 2021, its highest reading since June 2011, based on data from the Institute of Statistics (INSTAT). Consumer prices surged at the fastest pace since summer 2011 as food prices, transport, rent, water, fuel, and power prices moved a lot higher. Overall prices rose...

Albania’s Economic Growth to Slowdown in 2022, WB Says
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Albania’s Economic Growth to Slowdown in 2022, WB Says

TIRANA, January 12 Albania’s GDP growth will drop to 3.8 percent in 2022 from 7.2 percent in 2021, the World Bank (WB) Global Economic Prospects cited on Tuesday. According to the WB, the country’s GDP growth in the 2022 forecast will be 0.1 percent points more than June’s forecast. Moreover, growth will be seen slowing...

Albania Plans to Launch 31% Film Cash Rebate Incentives
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Albania Plans to Launch 31% Film Cash Rebate Incentives

TIRANA, January 4 Albania is set to introduce a 31% cash rebate to attract international film and TV producers to shoot in the country What do New Zeeland, Petra, and Wadi Rum in Jordan, Ait Ben Haddou in Morocco, Tabernas in Spain, and the Mehrangarh Fort of Jodhpur in India have in common? They are...

New Lek 500 and Lek 2,000 Notes to Enter Circulation in January
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New Lek 500 and Lek 2,000 Notes to Enter Circulation in January

TIRANA, December 23 The enhanced Lek 500 and Lek 2,000 banknotes will go into circulation on January 17th, Governor of the Bank of Albania (BoA) Gent Sejko said on Wednesday. The notes are the last two of the recent series of new and improved Lek banknotes that BoA has issued over a three-year period. This...

The Czech Republic to Open Honorary Consulate in Saranda
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The Czech Republic to Open Honorary Consulate in Saranda

TIRANA, December 15 The Czech Republic will open an honorary consulate in Saranda this week, local media reported. It will be the first honorary consulate of the Czech Republic in Albania and it will offer its services to the southern regions of Vlora and Gjirokastra. The opening of the consulate was first mentioned by Czech...

Worker Shortage, Darkest Cloud on the Horizon
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Worker Shortage, Darkest Cloud on the Horizon

TIRANA, December 6 While the labor market experts around the world wonder where all the workers have gone, the situation in Albania is kind of different. Albanians know where the workers are going, what they don’t exactly know is how to handle the workers’ shortage problem. According to Monitor Magazine, Albanian companies from a wide...

Albania-Kosovo to Recognize Social Security Contributions
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Albania-Kosovo to Recognize Social Security Contributions

TIRANA, November 24 The Council of Ministers adopted two agreements between Albanian and Kosovo that will further facilitate labor mobility between the two countries. The agreements that will get signed during the joint meeting of the two governments set for Friday are going to recognize social security contributions and ease relocation for Albanian and Kosovan...

BoA to End Confusion Over New and Old Lek
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BoA to End Confusion Over New and Old Lek

TIRANA, November 17 ‘Just Lek. Neither old Nor New’ is a financial education campaign that hopes to permanently end the confusion surrounding the Albanian Lek. Many Albanians still speak in old Lek, which is confusing not only to foreigners but to fellow citizens too. Thus, the Bank of Albania (BoA) is taking action through a...

Albania to End Duty-Free Fuel for Yachts
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Albania to End Duty-Free Fuel for Yachts

TIRANA, October 29 Sad news for billionaires who used to bunker their yachts in Albanian ports for tax-free fuel. The duty-free fuel era might soon be gone and they will have to pay taxes, Monitor magazine reported on Friday. The adoption of a new draft law that defines a Lek 65 per litter tax, is...

Albania Reopens Bidding for Saranda Airport
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Albania Reopens Bidding for Saranda Airport

TIRANA, October 28 Albanian authorities have reopened the bid procedure on the design, construction, operation, maintenance, and transfer of the Saranda International Airport (SIA). Based on the announcement made by the Public Procurement Agency (APP) on October 26, interest investors have one month to submit bids. The first biding procedure on Saranda Airport was closed...