Oil and mining industry struggles to recover following mid-2014 slump in commodity prices

TIRANA, March 16 – The key tax that Albania collects from oil and mining operations in the country hit a seven-year low in 2017 despite commodity prices considerably recovering from the mid-2014 slump, unveiling the ongoing vulnerability of this key sector to the Albanian economy in the face of international headwinds. Data published by the country’s finance ministry shows the mining royalty dropped to a mere 2.3 billion lek (€17.7 million) in 2017, a record low since 2010 when huge investment was made both in the oil and mining sectors. The direct income that the Albanian government got from the…