A stronger ALL to EUR lowers exports

24/08/2016 00:00

A stronger Albanian Lek (ALL) to Euro might bring lower prices for
consumers, but there is a negative consequence for exports. Compared to
one year ago, Euro has been devaluated with 3%.

“For a company that has an annual turnover of 1 million EUR in exports, this means 30.000 EUR less”, says exporter Alban Zusi.

Eurozone takes 70% of Albanian exports. In a national rang, the impact of a stronger EUR is considerable.

Zusi thinks that authorities must intervene to balance the course. But, for Ilir Ciko, this would not be recommendable.

Ciko thinks that businesses could compensate part of the negative effects by buying machineries and tools during summer, when there is always a small drop of Euro.

Total exports dropped with 7.6% in the first six months, compared to the last year, due to the world crisis with oil and minerals.

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