Municipalities increase wage expenditure

Municipalities increase wage expenditure

TIRANA, June 27- Local government units have continued to increase salaries spending during the first quarter of this year even though the transfer of functions from the central government is fading, as investment spending has fallen further during the first

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Roaming agreement and tariffs

Roaming agreement and tariffs

TIRANA, July 2- The Regional Cooperation Council (RCC) reports that since July 1 the roaming prices throughout the Western Balkans have dropped significantly, where citizens of these countries will be able to call, surf the Internet, send more SMS and

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Fitch Solutions: Albania has high political and economic risk

Fitch Solutions: Albania has high political and economic risk

TIRANA, July 3- Fitch Solutions has released the latest country risk index report in Southeast Europe. Fitch’s index lists countries on a scale from 0 to 100, assessing short and long-term political stability, short-term economic outlook, long-term economic potential, and

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Tax for cars to be reviewed

Tax for cars to be reviewed

TIRANA, July 2- The government expects to change the taxation policy on vehicles, whereby the more powerful the car one owns, the more they will have to pay. Referring to an official document, it is foreseen that there will be

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Insurance companies compensate 18 million euros bills

Insurance companies compensate 18 million euros bills

TIRANA, July 2- Insurance companies have paid in total as damages compensations over 2.3 billion lek (18 million euros) in the first five months of this year. Official data on the insurance market published by the Financial Supervisory Authority (FSA),

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VAT threshold reduction doesn’t generate expected revenue

VAT threshold reduction doesn’t generate expected revenue

TIRANA, July 2- The reduction in the Value Added Tax (VAT) threshold for small businesses from 5 to 2 million lek (13-40.5 thousand euros) of turnover, has not served as an incentive policy for increasing VAT revenues over the past

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Consumption reduction continues

Consumption reduction continues

TIRANA, July 2- The political crisis has lagged consumption in the last six months. Official data shows that consumers are mainly focused on basic purchases, avoiding the consumption of durable goods. According to INSTAT data, the consumption of the population

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Albania-Kosovo trade dispute continues

Albania-Kosovo trade dispute continues

TIRANA, July 3- Chairman of the Kosovo Chamber of Commerce Nikolin Jaka, announced today that a working group has been established with coordinators the Kosovo Economic Chamber and Tirana Chamber of Commerce, which will collect and filter all issues between

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Economy in Brief

Economy in Brief

Albanian economic growth halves TIRANA, July 2- The economic growth during the first quarter of the year is recorded at 2.21 percent. Compared to the same period last year, the growth rate seems to have shrunk by almost half, as

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BoA warns halving of economic growth to continue

BoA warns halving of economic growth to continue

TIRANA, July 3- According to Albanian Institute of Statistics (INSTAT) data the economic growth was 2.2 percent in the first quarter of the year, almost halving from the 2018 average rate of 4.06 percent. Governor of the Bank of Albania

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