Personal labor numbers in 2007

TIRANA, Nov.15 – The Finance Ministry will provide all employed Albanian people with a personal identification number for purposes of income registration, taxation and social security contributions. The ministry will also apply a new scheme for registering all personal income

Read Full Article

Local government to manage small businesses taxes

TIRANA, Nov. 15 – The Vice Minister of internal Affairs, Ferdinand Poni, declared on Wednesday that 2007 will launch the new scheme of tax collections according to which the local structures will handle all the process of tax collections from

Read Full Article

Lower Value added Tax next year

TIRANA, Nov. 15 – Finance Vice-Minister Florian Mima presented to the economy Commission of the parliament a plan drafted by the corresponding administration for lowering the Value Added Tax by one percent by mid-2007. The new Vat is thus calculated

Read Full Article

Authority starts formal investigation on insurance market

TIRANA, Nov. 14 – A formal investigation will be conducted to assess the potential cartel organization of Albanian insurance providers. The news was communicated on Monday by the Competition Authority of Albania which has started to examine various products in

Read Full Article

Enhancing the business-government dialogue

TIRANA, Nov.14 – The Minister of Economy, Genc Ruli participated on Tuesday in the first meeting of the Counseling Council of Business (CCB). This special Council was created through a respective law Nr.9607, dated 11.9.2006. The Minister expressed his gratitude

Read Full Article

Remittances remain principal revenue factor in Albania

TIRANA, Nov.15 – Bank of Albania declared that 86 percent of bank transfers into the country for the first half of 2006 have been a result of emigrants sending back remittances to Albania. The news is now familiar for an

Read Full Article

Bankers Petroleum reports rising revenues from Albanian Operations

Financial data TIRANA, Nov.10 – Canadian petrochemical company Bankers Petroleum posted on its website an interim financial report showing significant improvement in its revenues. Previously the company had reported loss from operations in the Albanian oilfield. The most recent data

Read Full Article

Alpha bank declares profitable expansion in the Balkans

ATHENS, Nov 15 – Greece’s second-largest lender Alpha Bank declared its profit reached 473.4 million euros for the first three quarters of 2006. The bank issued a statement on Wednesday, declaring that the change in profits meant a31.4 percent rise

Read Full Article

Infrastructure – the main pillar of the budget

TIRANA, Nov. 15 – The Ministry of Public Works, Transportation and Telecommunication is one of the main beneficiaries of the 2007 budget, with a toal of 40.3 billion lek, out of which 90.5 percent are allocated to investments. The news

Read Full Article

World Bank to support food industry

SHKODER, Nov.14 – World Bank organized on Tuesday a seminar for food industry in Albania. The event was organized in the northern city of Shkodra. Participants included businessmen and representatives of the local government of the entire district of Shkodra.

Read Full Article
WP_Query Object
(
    [query_vars] => Array
        (
            [cat] => 5
            [paged] => 750
            [error] => 
            [m] => 
            [p] => 0
            [post_parent] => 
            [subpost] => 
            [subpost_id] => 
            [attachment] => 
            [attachment_id] => 0
            [name] => 
            [static] => 
            [pagename] => 
            [page_id] => 0
            [second] => 
            [minute] => 
            [hour] => 
            [day] => 0
            [monthnum] => 0
            [year] => 0
            [w] => 0
            [category_name] => economy
            [tag] => 
            [tag_id] => 
            [author] => 
            [author_name] => 
            [feed] => 
            [tb] => 
            [comments_popup] => 
            [meta_key] => 
            [meta_value] => 
            [preview] => 
            [s] => 
            [sentence] => 
            [fields] => 
            [menu_order] => 
            [category__in] => Array
                (
                )

            [category__not_in] => Array
                (
                )

            [category__and] => Array
                (
                )

            [post__in] => Array
                (
                )

            [post__not_in] => Array
                (
                )

            [tag__in] => Array
                (
                )

            [tag__not_in] => Array
                (
                )

            [tag__and] => Array
                (
                )

            [tag_slug__in] => Array
                (
                )

            [tag_slug__and] => Array
                (
                )

            [post_parent__in] => Array
                (
                )

            [post_parent__not_in] => Array
                (
                )

            [author__in] => Array
                (
                )

            [author__not_in] => Array
                (
                )

            [ignore_sticky_posts] => 
            [suppress_filters] => 
            [cache_results] => 1
            [update_post_term_cache] => 1
            [update_post_meta_cache] => 1
            [post_type] => 
            [posts_per_page] => 10
            [nopaging] => 
            [comments_per_page] => 50
            [no_found_rows] => 
            [order] => DESC
        )

    [tax_query] => WP_Tax_Query Object
        (
            [queries] => Array
                (
                    [0] => Array
                        (
                            [taxonomy] => category
                            [terms] => Array
                                (
                                    [0] => 5
                                )

                            [include_children] => 1
                            [field] => term_id
                            [operator] => IN
                        )

                )

            [relation] => AND
        )

    [meta_query] => WP_Meta_Query Object
        (
            [queries] => Array
                (
                )

            [relation] => 
        )

    [date_query] => 
    [post_count] => 10
    [current_post] => -1
    [in_the_loop] => 
    [comment_count] => 0
    [current_comment] => -1
    [found_posts] => 7743
    [max_num_pages] => 775
    [max_num_comment_pages] => 0
    [is_single] => 
    [is_preview] => 
    [is_page] => 
    [is_archive] => 1
    [is_date] => 
    [is_year] => 
    [is_month] => 
    [is_day] => 
    [is_time] => 
    [is_author] => 
    [is_category] => 1
    [is_tag] => 
    [is_tax] => 
    [is_search] => 
    [is_feed] => 
    [is_comment_feed] => 
    [is_trackback] => 
    [is_home] => 
    [is_404] => 
    [is_comments_popup] => 
    [is_paged] => 1
    [is_admin] => 
    [is_attachment] => 
    [is_singular] => 
    [is_robots] => 
    [is_posts_page] => 
    [is_post_type_archive] => 
    [query_vars_hash:WP_Query:private] => d7338be22089a8f4efc4db8d117fc71d
    [query_vars_changed:WP_Query:private] => 
    [thumbnails_cached] => 
    [stopwords:WP_Query:private] => 
    [query] => Array
        (
            [cat] => 5
            [paged] => 750
        )

    [request] => SELECT SQL_CALC_FOUND_ROWS  wp_posts.ID FROM wp_posts  INNER JOIN wp_term_relationships ON (wp_posts.ID = wp_term_relationships.object_id) WHERE 1=1  AND ( wp_term_relationships.term_taxonomy_id IN (5) ) AND wp_posts.post_type = 'post' AND (wp_posts.post_status = 'publish') GROUP BY wp_posts.ID ORDER BY wp_posts.post_date DESC LIMIT 7490, 10
    [posts] => Array
        (
            [0] => WP_Post Object
                (
                    [ID] => 100830
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov.15 - The Finance Ministry will provide all employed Albanian people with a personal identification number for purposes of income registration, taxation and social security contributions. The ministry will also apply a new scheme for registering all personal income data starting 2008. The news was communicated by the Finance Vice minister, Florian Mima. The measure emulates the American experience with the Social Security numbers. This is the second legislation that the Albanian government is borrowing from the America experience. The other is about impeachment and is being considered by the Justice Ministry for providing a legal framework under which to investigate the General Prosecutor.
                    [post_title] =>  Personal labor numbers in 2007 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => personal-labor-numbers-in-2007_100830
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100830
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [1] => WP_Post Object
                (
                    [ID] => 100831
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov. 15 - The Vice Minister of internal Affairs, Ferdinand Poni, declared on Wednesday that 2007 will launch the new scheme of tax collections according to which the local structures will handle all the process of tax collections from small businesses. Poni made this statement to the Parliamentary commission of Economy. This measure aims at improving the efficiency of the process as well as ending a futile dispute between central and local institutions. "The new legal framework will provide the local administration with the necessary fiscal autonomy, making space for improvements in the business climate and enhancing the coordination between business and governance interests," said Poni. He also added that the new law provides a flexible range of policies that target the specific needs of different regions in the country. The new law allows the local power structures to determine the tax rate and the procedures to administer and collect taxes. It also gives the capacity to point out the categories which will have facilitated procedures or lower rates. Finally the law will allow local structures to determine the way in which they will use the revenues form these collections.
                    [post_title] =>  Local government to manage small businesses taxes 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => local-government-to-manage-small-businesses-taxes_100831
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100831
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [2] => WP_Post Object
                (
                    [ID] => 100832
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov. 15 - Finance Vice-Minister Florian Mima presented to the economy Commission of the parliament a plan drafted by the corresponding administration for lowering the Value Added Tax by one percent by mid-2007. The new Vat is thus calculated to be 19 percent. A different rate of six percent will be applied to the energy sector and the Ministry is studying the feasibility of a reduced rate for agriculture as well. Starting 2008, the government has decided to apply a flat tax rate of 17 percent, despite the concerns that the International Monetary Fund has expressed in relation to this decision. VAT revenues account for the majority of all tax related revenues. The budget predicts 85.4 billion lek revenues from VAT collections for 2007. This will mean a 12.4 percent increase compared to estimated figures for 2006. Projected GDP value of Vat is 8.69 percent. The Economy Commission convened to discuss the budget, which was approved in principle by the parliament despite strong disagreement from the opposition parties.   VAT was applied for the first time in Albania in 1996 and the rate was 12.5 percent. For the last eight years the tax was fixed at 20 percent.
                    [post_title] =>  Lower Value added Tax next year 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => lower-value-added-tax-next-year_100832
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100832
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [3] => WP_Post Object
                (
                    [ID] => 100833
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov. 14  - A formal investigation will be conducted to assess the potential cartel organization of Albanian insurance providers. The news was communicated on Monday by the Competition Authority of Albania which has started to examine various products in the insurance market of Albania. Several reports to this authority have raised the possibility that insurance companies had created illegal arrangements to set fixed prices for services like third-party liability car insurance, international car insurance and border police car insurance. "We have noted that the insurance market in Albania is controlled by written agreements between companies, permanent coordination and joint price decisions", the Authority announced in its statement. One of the agreements was legal and it was approved by the Ministry of Finance of Albania. It was signed in May 2005 by eight companies to coordinate their points of sale for cross-border car policy with a fixed price. The justification provided was that this regulation would allow them to survive. In December of the same year, the Competition Authority asked the Minister of Finance to annul the agreement because it was considered a violation under competition law and principles. The ministry ignored the recommendation. The Albanian insurance market registered $12 million of paid claims this year. The Competition Authority of Albania was created in 2004. Last year it fined Albanian Mobile Telecommunication, for non-collaborative conduct in the investigation over the mobile market. Currently it is holding official investigations over the insurance market and the mobile telecommunications.
                    [post_title] =>  Authority starts formal investigation on insurance market 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => authority-starts-formal-investigation-on-insurance-market_100833
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100833
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [4] => WP_Post Object
                (
                    [ID] => 100822
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov.14 - The Minister of Economy, Genc Ruli participated on Tuesday in the first meeting of the Counseling Council of Business (CCB). This special Council was created through a respective law Nr.9607, dated 11.9.2006. The Minister expressed his gratitude to all the participating businesses and other public institutions that proposed candidates to the council. The council aims at enhancing the transparent and recurrent dialogue between administrative structures of the government and the community of business. The CCB will coordinate the intensive interactions between the two sides in matters directly related to both parties such as strategy designing and policy-making in order to improve the business climate in Albania. The CCB will report all practices and administrative problems that hinder the normal development of the business climate. The Ministry of Economy is currently designing a draft manual for the regulation of all CCB activities. The council will have a significant role given the integration context and the recent engagements with the Stabilization and Association Agreement as well as the Central European Free Trade Agreement.
                    [post_title] =>  Enhancing the business-government dialogue 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => enhancing-the-business-government-dialogue_100822
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100822
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [5] => WP_Post Object
                (
                    [ID] => 100834
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov.15 - Bank of Albania declared that 86 percent of bank transfers into the country for the first half of 2006 have been a result of emigrants sending back remittances to Albania. The news is now familiar for an economy that finances more than half of its trade deficit through these incoming transfers. The total amount of remittances recorded by the bank is 432 million euro, a 12 percent increase compared to the same period last year. The other main factor that has influenced bank transfers for this six month period has been state transfers for technical assistance, a total of 31 million euro, and an increase of 41 percent from last year.
                    [post_title] =>  Remittances remain principal revenue factor in Albania 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => remittances-remain-principal-revenue-factor-in-albania_100834
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100834
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [6] => WP_Post Object
                (
                    [ID] => 100823
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => Financial data
TIRANA, Nov.10 - Canadian petrochemical company Bankers Petroleum posted on its website an interim financial report showing significant improvement in its revenues. Previously the company had reported loss from operations in the Albanian oilfield. The most recent data nevertheless show a cut in these losses by 47 percent compared to last year. The company also emphasized that this was due to a strong pick up in revenue and net operating income. 
The concrete developments and improvements were analyzed as follows: 
Bankers Petroleum's nine-month net operating income compared to last year more than tripled from $2.6 million for last year to $9.4 million (4.0 million euro) for the first three quarters of 2006. Oil and gas revenues rose to $22.3 million, a change of 146 percent compared to last year. Average sales volume reached 3,149 barrels of oil per day (bopd). Net operating income for the third quarter alone increased to $4.3 million, a rise of 207 percent compared to last year. For the same period revenue was 152 percent higher than last year, reaching $9.2 million. Total assets reached $127.1 million at the end of September, compared to $53.1 million a year earlier. Production figures for the third quarter show a level of 4,000 bopd compared to 3,193 bopd for the previous quarter, a rise of 123 percent higher from the same period last year. Exit production for September this year was approximately 4,210 bopd. Its exports account for 43 percent of the output in the third quarter of this year. The average price per barrel was $30.81. In the previous quarter the company exported 26 percent of its crude oil sales at an average price of $31.61 per barrel. The exports played positive role of exports in softening losses from declining oil prices, according to the company's explanations on the report. Bankers Petroleum had 114 reactivated oil wells in the oilfield at the end of September, compared to 85 oil wells in the previous quarter. The company's capital expenditure in Albania also rose from $13.1 million during the second quarter to $9.4 million in the third one.

The terrain
The Patos Marinze oilfield, located in the southern district of Fier, was originally discovered in 1926 and has over 2,500 wells. The field alone used to produce 13,000 barrels per day at its peak in the 1960s. Being one of the largest onshore oilfields in continental Europe, it is estimated to contain 1.96 billion barrels of original oil in place. Its reserves are estimated to account for 99.7 million barrels of gross oil up until December 2005. Bankers Petroleum Albania Ltd. is a wholly-owned subsidiary of Bankers Petroleum Ltd., a Canadian-based oil and gas exploration and production company focused on opportunities in unconventional petroleum assets. Bankers' shares are traded on the Toronto Stock Exchange and the AIM Market in London, England under the ticker symbol BNK. Bankers Petroleum has operative bases in the U.S. in the Palo Duro basin, in the state of Texas. The company owns a subsidiary that drills the Albania's Patos Marinze onshore oilfield. This daughter company is Saxon International Energy, which was granted a 25-year exploitation right on the oilfield by state-owned oil researcher, developer and producer Albpetrol in 2004. The license allows Saxon to redevelop the oilfield. Bankers Petroleum's marketing agreement is with Albania's sole oil refinery, the state-owned ARMO, under which Bankers Petroleum sells the crude it produces to in-country refineries. The agreement ends in 2010. Under the prerogatives of this contractual concord, it is allowed to export part or all of its crude output to markets outside the country. In February, Bankers Petroleum signed an export contract with an Italian refinery.

The future 
Bankers Petroleum's President Richard Wadsworth, commenting on the increase in the company's production, revenues and funds from operations during the third quarter of 2006, said "Our results in Albania continue to improve due to the activities of our strong operational team." The positive results seem to be coupled with serious feasibility and development strategies for the future. In March, Saxon presented a development plan for the oilfield under which the company will invest up to $213 million in the next five years. The plan includes a provision that enables the company to produce and sell oil under Albpetrol's existing licence for a period of 25 years. The agreements can be extended for further five-year increments. The overall plan was approved by the Albanian Government. In September, Bankers Petroleum launched another study for a thermal enhanced oil recovery (EOR) pilot project in the oilfield aiming to increase total production above the current 15,000 bopd production target. In order to finance these ongoing projects, last week, the company borrowed $20 million from Raiffeisen Albania bank, the largest foreign-owned bank in the country. As far as concrete expectations are concerned, the company' report predicts an average of 4,400 to 4,600 bopd, 2006 exit production rate. Finalizing the report, the company said, "We anticipate closing the year in a strong position. In addition, our enhanced oil pilot project study is progressing, which we believe can increase production and resource recovery beyond the primary development plan in place for the Patos Marinze oilfield."
                    [post_title] =>  Bankers Petroleum reports rising revenues from Albanian Operations 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => bankers-petroleum-reports-rising-revenues-from-albanian-operations_100823
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100823
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [7] => WP_Post Object
                (
                    [ID] => 100835
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => ATHENS, Nov 15 - Greece's second-largest lender Alpha Bank declared its profit reached 473.4 million euros for the first three quarters of 2006. The bank issued a statement on Wednesday, declaring that the change in profits meant a31.4 percent rise for the group. The development was evaluated as a top achievement, surpassing market expectations. As for the explanations, the bank evaluated positively its expansion policy in the Balkans.  Vasilis Vlastarakis, an analyst from Alpha bank, said that "Alpha is headed for full-year earnings above 600 million euros. Its expansion in the Balkans is boosting profitability while its net interest margin is maintained high, above that of European peers." Rapid growth of lending volumes in southeastern Europe, where he bank has branches in Romania, Bulgaria, Serbia, Albania and Cyprus,  led  to an overall increase by 20.2 percent in the loan portfolio reaching a level of 32.4 billion euros, according to Alpha bank.
                    [post_title] =>  Alpha bank declares profitable expansion in the Balkans 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => alpha-bank-declares-profitable-expansion-in-the-balkans_100835
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100835
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [8] => WP_Post Object
                (
                    [ID] => 100824
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => TIRANA, Nov. 15 - The Ministry of Public Works, Transportation and Telecommunication is one of the main beneficiaries of the 2007 budget, with a toal of 40.3 billion lek, out of which 90.5 percent are allocated to investments. The news was given by Minister Lulzim Basha to the Parliamentary Commission of Production, Trade and Industry. This Commission had convened to discuss in a detailed way the 2007 budget. The Minister also compared the data to last year. The general funds to the Ministry have increased by 30 percent, investments have the most significant increase by 32 percent, salary fund have increased by 20 percent and other current funds have increased by five percent according to Basha.
Transportation and road infrastructure have been declared to be the absolute priorities of the budget reflecting the economic concerns of the current administration. In their budget presentations Prime Minister Berisha and Finance Minister Ridvan Bode have explained that infrastructure investments are the openly sustainable plan for long term development.   Two are the main areas that these investments will be focused according to BAsha. The first is the completion of segments in the major artery: Durres-Kukes-Morine, planed to be complete by 2010. Thus segments, Milot-Rreshen (26 km), Kalimash-Kukes-Morine (29km) and Rr촨en - Kalimash(45 km), will take financial priority. Eight billion leks are allocated to these segments for 2007. The second priority are the touristic roads throughout the country, in Durr쳬 Divjaka, Seman, Patok, Velipoja, Sh쯧jin, Spille, etc,. The Trans-Balkans road of Vlora has been allocated 486 million leks. Other segments that will be prioritized are Dh쳭i-Himar롡nd Himar뮓arand묠with corresponding funds of 200 million leks.
                    [post_title] =>  Infrastructure - the main pillar of the budget 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => infrastructure-the-main-pillar-of-the-budget_100824
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100824
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

            [9] => WP_Post Object
                (
                    [ID] => 100836
                    [post_author] => 68
                    [post_date] => 2006-11-17 01:00:00
                    [post_date_gmt] => 2006-11-17 01:00:00
                    [post_content] => SHKODER, Nov.14 - World Bank organized on Tuesday a seminar for food industry in Albania. The event was organized in the northern city of Shkodra. Participants included businessmen and representatives of the local government of the entire district of Shkodra. The event was supported by the EU project for Technical Assistance.  The discussion focused on standards for food safety and the compliance of exporting companies to the rules and regulations related to their activity.  The event presented also a case study, part of the World Bank project related to food industry.
                    [post_title] =>  World Bank to support food industry 
                    [post_excerpt] => 
                    [post_status] => publish
                    [comment_status] => closed
                    [ping_status] => open
                    [post_password] => 
                    [post_name] => world-bank-to-support-food-industry_100836
                    [to_ping] => 
                    [pinged] => 
                    [post_modified] => 2006-11-17 01:00:00
                    [post_modified_gmt] => 2006-11-17 01:00:00
                    [post_content_filtered] => 
                    [post_parent] => 0
                    [guid] => http://46.183.120.20/tiranatimes/?p=100836
                    [menu_order] => 0
                    [post_type] => post
                    [post_mime_type] => 
                    [comment_count] => 0
                    [filter] => raw
                )

        )

    [post] => WP_Post Object
        (
            [ID] => 100830
            [post_author] => 68
            [post_date] => 2006-11-17 01:00:00
            [post_date_gmt] => 2006-11-17 01:00:00
            [post_content] => TIRANA, Nov.15 - The Finance Ministry will provide all employed Albanian people with a personal identification number for purposes of income registration, taxation and social security contributions. The ministry will also apply a new scheme for registering all personal income data starting 2008. The news was communicated by the Finance Vice minister, Florian Mima. The measure emulates the American experience with the Social Security numbers. This is the second legislation that the Albanian government is borrowing from the America experience. The other is about impeachment and is being considered by the Justice Ministry for providing a legal framework under which to investigate the General Prosecutor.
            [post_title] =>  Personal labor numbers in 2007 
            [post_excerpt] => 
            [post_status] => publish
            [comment_status] => closed
            [ping_status] => open
            [post_password] => 
            [post_name] => personal-labor-numbers-in-2007_100830
            [to_ping] => 
            [pinged] => 
            [post_modified] => 2006-11-17 01:00:00
            [post_modified_gmt] => 2006-11-17 01:00:00
            [post_content_filtered] => 
            [post_parent] => 0
            [guid] => http://46.183.120.20/tiranatimes/?p=100830
            [menu_order] => 0
            [post_type] => post
            [post_mime_type] => 
            [comment_count] => 0
            [filter] => raw
        )

    [queried_object] => stdClass Object
        (
            [term_id] => 5
            [name] => Economy
            [slug] => economy
            [term_group] => 0
            [term_taxonomy_id] => 5
            [taxonomy] => category
            [description] => 
            [parent] => 0
            [count] => 7743
            [filter] => raw
            [cat_ID] => 5
            [category_count] => 7743
            [category_description] => 
            [cat_name] => Economy
            [category_nicename] => economy
            [category_parent] => 0
        )

    [queried_object_id] => 5
    [post__not_in] => Array
        (
        )

)

Latest News

Read More