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‘No-deal Brexit could have implications for Albania, region,’ EBRD warns

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12 mins read
7 years ago
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TIRANA, Nov. 5 – A no-deal Brexit would hit Albania and other Western Balkan countries through indirect trade links, lower EU accession funds and delayed accession prospects, London-based European Bank for Reconstruction and Development has warned. In a recent report examining a possible departure of the United Kingdom from the EU with no agreements on trade and investment, the EBRD says south-eastern European countries where it invests, a region that includes six EU aspirant Western Balkan countries as well as EU members Greece, Cyprus, Romania and Bulgaria, would be the hardest hit in case of a no-deal Brexit. While trade…

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Story Highlights

  • “Unless other member states increase their contributions, Brexit will lead to a 10 to 15 per cent decline in structural and accession funds available to countries in central and south-eastern Europe, amounting to a reduction of up to 0.4 percentage points of GDP in EU-supported investment. Brexit may also weaken the (perceived) prospects of EU accession for candidate and potential candidate countries. A slower reform momentum in these countries will then weigh on growth,” says the EBRD report

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