Positive developments in EU to help Albania’s economy

Tirana, November 19, 2015

The positive developments in EU member economies during 2015 will have a positive impact in the economic growth of Albania, says a report issued by Bank of Albania. According to the report, the European Central Bank has predicted that the Gross Domestic Product of EU countries will increase during 2015.

The report cites that “the economic activity in EU countries has increased due to the increase of consumption and exports in a favorable business climate. The facilitating financial conditions and policies applied by the European Central Bank are supporting the revival of consumption and trade exchanges.”

Also, Bank of Albania’s report shows that lending to businesses and families has increased and that the economic revival has been noticed in most of the European Union countries. The economic revival of these countries has direct effects into Albania’s economy due to the fact that they are country’s main trade partners and home of millions of Albanian migrants which bring remittances in Albania.

News source/photo credits: ATA