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New Restrictions Would Put Recovery under Threat, BoA Says
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New Restrictions Would Put Recovery under Threat, BoA Says

TIRANA, November 5 The recovery of Albania’s economy during the summer months will start to slow down if new restriction measures are going to start to bite on the economy, first deputy Governor of the Bank of Albania (BoA) Luljeta Minxhozi said on Wednesday. She said that despite the positive trends over the past months...

Albania’s Economy to Shrink 7.6%, BoA Foresees
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Albania’s Economy to Shrink 7.6%, BoA Foresees

TIRANA, October 8 Governor of the Bank of Albania (BoA) Gen Sejko said on Thursday that Albania’s Gross Domestic Product (GDP) will decrease 7.6 percent in 2020 as a result of the COVID-19 pandemic. However, Sejko said that the worst is past, as the lowest point was during the second quarter (Q2) of 2020. According,...

COVID-19 Costs Nearly 17,000 Jobs in Albania in Q1
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COVID-19 Costs Nearly 17,000 Jobs in Albania in Q1

TIRANA, July 1 Nearly 17,000 people lost their jobs in Albania during January – March (Q1) with the disruption in economic activity caused by the COVID-19 pandemic, Governor of the Bank of Albania Gent Sejko said on Wednesday. Based on the fact, that safety measures and lockdowns came into place by mid-March, the majority of...

New Lek 10,000 and Lek 1,000 Notes to Enter Circulation in 2020
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New Lek 10,000 and Lek 1,000 Notes to Enter Circulation in 2020

TIRANA, June 9 The new Lek 10,000 banknote will enter circulation for the first in the last quarter of 2020, Monitor magazine reports. The Bank of Albania (BoA) started the introduction of the new series of banknotes in 2019. The first banknotes issued in the new series were the denominations of Lek 200 and Lek...

Hija e Korbit Treasure, One of the Biggest Found in Albania
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Hija e Korbit Treasure, One of the Biggest Found in Albania

TIRANA, January 27 Perhaps the legends of hidden treasures in Albanian lands are not just myths. Exactly 38 years ago, archeologists were informed about an amazing treasure trove of coins at Hija e Korbit (The Crow Shadow) one the left bank of Devolli River, close to Maliq town. An estimated 618 silver coins from different...

Customer Due Diligence Made Easy, Boa Confirms
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Customer Due Diligence Made Easy, Boa Confirms

TIRANA, January 13 The Bank of Albania (BoA) under the law “On the prevention of money laundering and terrorism financing” informs that the amended regulation 44/2009 by the Supervisory Council entered into force on Wednesday, January 8th. Based on the new amendments to the regulation, for the implementation of the enhanced due diligence for customers,...

Coastal and Tirana Properties Are Getting Harder to Sell
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Coastal and Tirana Properties Are Getting Harder to Sell

TIRANA, October 14 Properties got harder to sell during 2019. The data was confirmed by a survey conducted by the Bank of Albania (BoA) with residential and commercial contractors and real estate brokers. According to the respondents in Tirana, the average time to sell a property in the capital city during the first half of...

BoA Keeps Key Rate Unchanged at 1%
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BoA Keeps Key Rate Unchanged at 1%

TIRANA, October 3 The Supervisory Council at the Bank of Albania (BoA) decided to keep the key rate unchanged at 1 percent despite the low consumer price index rate and slow economic growth. BoA’s governor Gent Sejko said in a press conference following Wednesday’s meeting of the Supervisory Council that a Key Rate cut can...

BA Presents New Series of Banknotes
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BA Presents New Series of Banknotes

TIRANA, 13 September  Bank of Albania has presented the new and improved series of Albanian banknotes with the legal course. The new series of Lek cash includes 6 banknotes: Lek200, 500, 1000, 5000 and 10000. This new series will be released in circulation gradually during the next 2 to 3 years. However, the Lek200 and...

How Much did Foreigners Spend in Albania in Jan-Jun 2019?
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How Much did Foreigners Spend in Albania in Jan-Jun 2019?

TIRANA, 12 September The foreign tourists visiting Albania are spending more money each year. According to data by the Bank of Albania, during the first 6 months of 2019, the costs of foreigners in Albania, reached a record value of €854 million, with an increase of 8.8% compared to the same period of last year....