Ruli: Half of Albanian businesses in bankruptcy

TIRANA, May. 15- According to the Minister of Economy, Genc Ruli, half of the businesses in Albania are in a state of bankruptcy because they have created a scheme of debt dependency among each other. The phenomenon was also explained by the head of the Construction Association, Artan Dulaku, who said that it is not uncommon for barter transactions to occur between different construction entrepreneurs. Ruli has claimed that Albania should start the legal procedures for bankruptcy recognition so that the market economy functions better. “Despite their external appearance, the situation of businesses in the country is not healthy and the formalization of their transactions through the banking system will require that some of them declare bankruptcy,” Ruli said.