Tag: Albanian Economy

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World Bank: Remittances in Albania Were 9.6% of GDP
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World Bank: Remittances in Albania Were 9.6% of GDP

TIRANA, July 12 The remittances sent from immigrants are a crucial part of many economies all over the world. Based on the report from the World Bank (WB), published on April 8, 2019, the remittances sent to low and middle-income countries reached a record of €469 billion in 2018, an increase of 9.6% compared to...

Touristic Albania, young people passionate about history
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Touristic Albania, young people passionate about history

TIRANA, August 15 Young people who are passionate about history are among many foreign tourists who have chosen this year to visit Albania. The Castle of Shkodra was the starting point for traveling to the historic monuments of two Dutch youths, Marilyn and Dan. “We are mainly here to learn about Albania’s history. We both haven’t...

INSTAT: Energy, record of exports
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INSTAT: Energy, record of exports

TIRANA, March 24 INSTAT announced today that last year energy exports were 1868 GWh in total, which is two times more than in 2015, as a result of favorable hydrological conditions, but also because of the increment of production capacity in recent years. INSTAT reported that domestic energy production last year amounted to 7135 GWh, with...

The Vienna Institute for International Economic Studies: Albania, positive growth indicator
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The Vienna Institute for International Economic Studies: Albania, positive growth indicator

TIRANA, March 21 The Vienna Institute for International Economic Studies has published the most recent projections for the economies of Central and Eastern Europe. Albania’s economy is projected to an increase of 3.5% during the year, under the projections of their government and under the latest projections of the International Monetary Fund, which show an increase...

IMF: Albanian economy to grow by 3.6% in 2016
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IMF: Albanian economy to grow by 3.6% in 2016

Tirana, Albania 13 April, 2016 In its April report, the International Monetary Fund says Albania’s economic growth for 2016 will be 3.4%, while in the next year Albania’s economic growth is expected to be 3.8%. Regarding the inflation of prices, the IMF says this economic indicator will continue to remain under 3% in general. For...

GDP rose 2.61% in 2015, says Institute of Statistics
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GDP rose 2.61% in 2015, says Institute of Statistics

Tirana, Albania 11 April 2016 A report published on Monday, April 11, 2016 by the Albanian Institute of Statistics says country’s economy increased by 2.61% in 2015, in comparison to 2014. The Gross Domestic Product rose 2.61% during the past year and the industries that contributed in the increase of the GDP are the construction...

Factors that caused the decrease of the inflation rate in February
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Factors that caused the decrease of the inflation rate in February

Tirana, Albania 17 March, 2016 In a latest press interview, Bank of Albania’s Governor, Genti Sejko said the consumption and investments will increase during the upcoming months, taking in consideration the positive performance of some specific economy indicators. Sejko’s declaration comes after the decrease of the inflation rate during February by 0.2%, for which the...

Bank of Albania: Interest rate to remain 1.75% during 2016
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Bank of Albania: Interest rate to remain 1.75% during 2016

Tirana, December 17, 2015 Bank of Albania Governor Gent Sejko declared in a press conference that Bank of Albania has decided to keep the interest rate at 1.75% during 2016, arguing that country’s economy is growing under its potential and the inflation rate is lower than the objective. Despite this, the Bank foresees that Albania...

Nonperforming loans decreased in October
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Nonperforming loans decreased in October

Tirana, December 15, 2015 Nonperforming loans have decreased slightly during October, according to statistics published lately by the Albanian Association of Banks. Nonperforming loans decreased to 20.4% from 20.6% that were registered on September while in annual terms they have decreased by 15%. Experts say the decrease of these loans has helped private banks to...