Foreign investments and remittances increase

11/09/2015 15:05

Direct foreign investments have increased with 36% in the second
trimester of this year, reaching 198 million EUR from 145 they were in
the same period of 2014.

Recent data from the Bank of Albania show that this is the second trimester in which investments of foreign companies mark a strong growth.

The foreign investments in total are 31.5% higher than during the first half of the past year, with an increase of 115 million EUR.

Foreign investments for this year are 31.5% higher than the first half of the past year. The growth is 115 million EUR.

The Bank of Albania say that most of the direct investments come from the fuel sector.

The data show that during the first half of this year, investments in this sector were 226 million EUR, or 47% of the total. In the second place comes the banking and telecommunication sectors, which represent 10% and 3% of the incoming investments.

The Bank of Albania data show that the second trimester has not been positive.

According to the bank, the remittances have also increased with 17.6%, compared to the same period of one year ago. From April to June, immigrants sent 162.5 million EUR, from 138.1 million that it was one year before that.

The data show that during the first six months of the year, the remittances have not been hit by the escalation of the Greek crisis, which peaked during June, when Greece closed banks.

The remittances were 305 million EUR, or 48.5 million EUR more than during the first half of the past year.

The remittances returned to positive levels for the first time after several years.

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