Official data from the Institution of Statistics show that there will be a boom of new constructions during 2018.
During the first nine months of 2017 only, authorities have issued 608 permits throughout the country, for investing 296 million EUR.
This figure is 2.3 times higher than the same period of 2016.
This growth comes from constructions for residential buildings, apartments and residential villas, mounting up to 170 million Euros of investments, which is six times higher than in 2016.
Construction was the sector mostly hit by the economic crisis, shrinking at a very fast pace. However, the recent increase of construction permits shows that the sector is revived. Initially, it was affected by energy projects, now even by new residential constructions.
Besides the positive impact on the economic growth, the construction increase has created harsh debates not only about environmental impacts but also about dubious financial sources.
According to the Bank of Albania, on November 2017, the credit stock for the economy was 553 billion ALL, almost to the same level with November 2016, without any growth.
The opposition says that the increase in the construction business in these conditions is suspicious. With banks giving no loans, it means that new constructions are funded by suspicious money that may derive from the drug traffic. But the government has rebuked these accusations, considering them ridiculous.
Top Channel
