Pessimistic scenario unveils challenges ahead for Albanian economy

Pessimistic scenario unveils challenges ahead for Albanian economy

TIRANA, Feb. 28 – The Albanian government’s baseline scenario is that the country’s growth will range between 4.2 percent to 4.4 percent over the next three years, but a pessimistic scenario envisages growth could be 1.5 percentage points lower each

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Albania’s first private stock exchange launches operations

Albania’s first private stock exchange launches operations

TIRANA, Feb. 28 – The Albanian Securities Exchange has launched its operations as the country’s first privately-owned stock exchange, initially trading only Albanian government securities before also turning to corporate bonds a year later. Currently, only three banks, two of

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Public debt hits 4-year low of 70% of GDP

Public debt hits 4-year low of 70% of GDP

TIRANA, Feb. 28 – Albania’s public debt hit a four-year low of about 70 percent of the GDP in 2017, slightly dropping for the second year in a row after a record high of 73 percent in 2015, but yet

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€180 million-worth in Europe-bound cocaine seized at Durrёs seaport

€180 million-worth in Europe-bound cocaine seized at Durrёs seaport

TIRANA, Feb. 28 – Albanian police seized 613 kg of cocaine – the biggest quantity ever seized – valued €180 million in the market inside a container importing bananas from Columbia to the Durrёs port on Wednesday. Two 25-year-olds have

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Poor human resource management leads to unproductive Albanian workers, study shows

Poor human resource management leads to unproductive Albanian workers, study shows

TIRANA, Feb. 28 – Companies operating in Albania pay little attention to human resource management, leading to unproductive workers who are always looking for new job opportunities rather than being loyal and efficiently contributing to the company they are working

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Albanians to pay more in property tax starting next April

Albanians to pay more in property tax starting next April

TIRANA, Feb. 27 – Albanians will pay more in property tax starting next April when a new value-based formula applying a 0.05 percent rate on homes and 0.2 percent on business facilities enters into effect. The new value-based property tax

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Tax authorities warn of penalties over fictitious business closures

Tax authorities warn of penalties over fictitious business closures

TIRANA, Feb. 27 – Albania’s tax authorities have warned of penalties over alleged growing fictitious business de-registrations and suspension of activity as thousands of micro and small businesses are expected to enter the 20 percent value added system by next

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EBRD: Catching up with EU living standards, an uphill battle that could take centuries for Western Balkans

EBRD: Catching up with EU living standards, an uphill battle that could take centuries for Western Balkans

TIRANA, Feb. 26 – Albania and other Western Balkans EU aspirant countries could need up to two centuries to catch up with EU living standards, a report by London-based European Bank for Reconstruction and Development has shown. The 200-year gap

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EU makes no promises during Juncker’s visit to Tirana

EU makes no promises during Juncker’s visit to Tirana

TIRANA, Feb. 26 – At the end of his meeting with Prime Minister Edi Rama, chief of the EU’s executive arm Jean-Claude Juncker told the media “Albania hasn’t stopped accumulating success,” reaffirming the European Commission will recommend opening of accession

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Two-thirds of Albanians live in energy poverty, survey shows

Two-thirds of Albanians live in energy poverty, survey shows

TIRANA, Feb. 26 – Two thirds of Albanian households say they face difficulty in paying off their monthly electricity bills and massively undertake actions to reduce their electricity consumption, especially during winter, something which practically places them under energy poverty,

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