Euro devaluation hurts exporting businesses
03/05/2018 20:40
Opposition leader warns about November 26 protest: Don’t dare touch the angry protesters 23/11 21:09
Euro reached its lowest level against the Albanian LEK this week since February 2009.
According to the Bank of Albania, 1 Euro was exchanged with 127.7 ALL, 5 ALL less than January.
The biggest concern comes from exporters, who say this is a huge loss for a key sector of the economy.
“10% lower than 1.5 years ago means 10% less revenues for exporting businesses. This is an economic damage of 27 billion ALL”, says Alban Zusi from the Center of Albanian Exports.
For them, this hit will be felt in the entire economy.
“This is the worst situation since the pyramids schemes. There will be lower investments, higher fees, even bankruptcies”, Zusi said.
Exporting businesses asked the government to establish a commission to analyze the situation at the Bank of Albania.
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Opposition leader warns about November 26 protest: Don’t dare touch the angry protesters 
