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World Bank: Albania is not immune to Turkey, global trade tensions

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8 years ago
Durres Port, the country's largest
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TIRANA, Oct. 9 – Albania is almost immune to current global trade tensions between leading economies and Turkish market volatility to the Western Balkans, but a possible escalation of trade conflicts between key players could also affect the small Albanian economy as it did in the aftermath of the 2008-09 global financial crisis. Due to stronger trade and investment ties with Turkey, a possible escalation of the crisis in Turkey, where the Turkish lira has lost about 40 percent of its value against the US dollar this year could affect Albania more than the current round of trade disputes involving…

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