Businessmen frightened of world economic recession

TIRANA, April 21 – Konfindustria, the association of Albanian businessmen, expressed its concern Monday that the world economic recession would have negative consequences on Albania, as well.
The association voiced concern about the increase in the trade deficit in the country, which grew by 27 percent compared to one year earlier, and the surpassing of the annual inflation target of 4.6 percent.
These figures show the Albanian economy is suffering not only from the consequences, but that it has been directly involved in the world crisis, according to Konfindustria.
Such a crisis becomes graver if the effects of the power crisis in the country are added in, the association added.
Konfindustria urged central authorities to pay special attention to the monetary policy the government follows. They urged the central Bank of Albania to stop the increase of the interest rate while trying to keep inflation under control.
They believe that the economic and institutional policies were fundamental to limit the crisis’ effects on the country. Lastly, Konfindustria urged the government to improve the climate of local business, including improvement of legislation and taking into account proposals they have already proposed. (Tirana Times Staff)