Boost in FDI, tourism income only slightly narrows current account gap

Tirana Times
By Tirana Times April 3, 2017 16:07

Boost in FDI, tourism income only slightly narrows current account gap

Story Highlights

  • Albania's foreign direct investment, tourism income and migrant remittances slightly recovered in 2016, slightly narrowing the gap in the country's current account as exports struggled to return to positive growth rate and imports moderately increased fuelled by some key energy-related investment. With international oil and mineral prices, only slightly picking up, Albania’s FDI is expected to continue relying on the major TAP project until 2020 when first gas flows are expected, but could suffer headwinds over the medium term unless the country offers new incentives in other key sectors and makes the economy more competitive regionally in terms of reducing its high tax burden, guaranteeing clear property rights and putting in place an independent judiciary following a long-awaited justice reform approved in consensus in mid-2016

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TIRANA, April 3 – Albania’s foreign direct investment, tourism income and migrant remittances slightly recovered in 2016, narrowing the gap in the country’s current account as exports struggled to return

Tirana Times
By Tirana Times April 3, 2017 16:07