Lowest growth of businesses in a decade

The institution of statistics reported that the number of operating businesses grew with only 1.1%, or five times less than one year ago.

This low growth is mainly due to the large number of closing businesses, Although 25,000 new businesses were opened in Albania during 2017, 23,000 others were closed.

Most of the closing businesses are small enterprises which face financial problems. Most of them are in retail commerce, failing to compete against organized networks, such as malls and bigger shops.

From January to May, the number of closing businesses in Tirana has been almost 40 a day.

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