In 2009 numerous businesses have stopped all activity or closed

In the four first months of the current year, numerous businesses have stopped all activity or closed, reports the local press (Korrieri, 30.06.2009) quoting data from the National Registration Center (Qendra Komb쵡re e Regjistrimeve, QKR). QKR reports that from January to April 2009, more than 2000 businesses have asked to close their accounts. QKR believes this is due not only to business failures, but also to mergers as well as to business reclassifications. However business failures, reported by the press, seem to be the number one cause for the decline, with the on-going global crisis playing a part in which any national economy operates.
Korrieri expects to see effects of the global crisis in Albania, not only in the worsening of the business climate and activity, but also regarding the banking system. It reported that for the period January to April 2009 the banks produced profits amounting to 3 million US Dollars (USD), while during the same period in 2008 they had profits of 24.6 million USD. Korrieri stated that the few measures taken belatedly to respond to requests made by numerous business associations have not yet produced any tangible results.