Albania’s current account gap narrows, but almost €300 mln in profits transferred abroad

TIRANA, Dec. 17 – Albania’s current account gap narrowed in the first three quarters of this year on the back of higher exports and energy-related investment as well as a boost in income from the emerging travel and tourism sector, but more profits generated in the country was transferred abroad rather than being reinvested at home. Data published by Albania’s central bank in its quarterly balance of payments shows all FDI, travel income and migrant remittances grew in the first three quarters of this year, when the current account, a key indicator of a country’s economic health, measuring the flow…