TIRANA, December 12
According to the official statistics provided by the Bank of Albania (BoA), Foreign Direct Investment (FDI) inflow into Albania during January – September 2018 amounted to Euro 760 million. FDI inflow remained stable during the last four years thanks to the major projects in the energy sector. However, statistics for the second and third quarter confirm the anticipated decline of FDI following the competition of the Trans Adriatic Pipeline (TAP) and Devolli Hydropower projects. Currently, investments in the energy sector account for 60 percent of the total FDI inflow. According to BoA, FDI inflows during the third quarter were actually negative as they decreased by 21 percent compared to the same period of 2017.
However, the annual balance remains positive due to the high FDI inflow during the first quarter of 2018. FDI inflow was among the main contributors to GDP growth during the last five years.
In the meantime, tourism is turning into a fast-growing industry. Revenue generated from inbound tourism during January-September 2018 increase by 12 percent compared to the same period of 2017.
Moreover, BoA confirms that migrant remittances have shown 8 percent increase during the January-September 2018. Total remittances sent over this period were Euro 501 million.
News Source: Scan TV