Rama on Reuters: Albania will issue Eurobond despite low revenues

“We have a Eurobond that is maturing so we decided to go into the markets. Yes, we hope we will get a good response, although the times are not the best,” Rama said on Reuters, referring to volatile global financial markets.

The government launched a campaign against tax evasion, but Rama dismissed concerns over Albania’s ability to repay debt.

“This should be a concern of the government and the people of Albania, not of investors because for investors this doesn’t make any difference,” he said.

He reiterated 2015 economic growth forecasts of between 2.7 percent to 3 percent. Foreign direct investment is up 2.7 percent in the first half of 2015 versus the same period in 2014.

Declining oil and mineral prices, a growing source of revenue, rather than just poor tax collection, were behind government spending cuts this month, Rama said.

One area of concern, and potential budget strain, are the migrants streaming into Europe from conflict zones in Syria, North Africa, and Afghanistan. While Albania is not affected now, Rama is talking with the UN.

“There is a very high possibility that with the winter time and the difficulties now… they might move to another channel. You will not find us unprepared, but also depends on the density of the flow of refugees,” Rama said.

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