Political crisis puts economy on hold, experts fear long term consequences
27/03/2017 00:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
Marinela Jazoj is the new face of foreign investors in Albania. She says
this is not the right time to invest in Albania, for reasons that are
not related to economy.
“Business is on hold. This is not an expansion phase, because there is no certainty about how the political situation is going to progress. Businesses will be more alive after September”, Jazoj said.
The uncertainty deriving from the political crisis is confirmed by the biggest risk evaluators, Banks.
“In these conditions, investors keep their projects on hold. Banks want to take this risk in consideration for all of their policies, until election day. The sooner the electoral process is concluded, the better it is for economy, the finances, banks and businesses”, said financial expert Spiro Brumbulli.
The Albanian economy has been showing signs of revival the past few years. The economic growth was accelerated in 2016 for the third consequent year, reaching 3.4%. But the political crisis that has been created, and the risk of having failed elections,
“The political crisis doesn’t allow the country to grow, because every development theory needs a proper functionality of the rule of law, of the public administration, and more dedication to the reforms”, said financial expert Arben Malaj.
Malaj adds that such political clashes, influenced by populism, could have consequences to the economy even after the elections.
Top Channel
