Bank of Albania discovered for the first time the emergency loan that
they will pay to the Albanian government to damage the old debts with
the business operators.
“The sums for the investment projects that we are supporting in Albania erach 86 million USD. The loan for the budget support will depend on the results of the budget discussions for 2014. We trust that it will be between 100 and 200 million USD”, declared Ellen Goldstein, director of the World Bank for the region.
In the last report of the regional economy, bank experts foresee more difficult times for Albania. According to them, the economic growth for this year will be only 1.3%.
“Predictions show that for the next two or three years, the economic growth of Albania will be two or three percent. The growth is low, and the stability of the debt is a major concern. It is actually thought that it reaches 68% of the Gross Domestic Product, without including the unpaid obligations. If you count them too, it mounts up to 72%”, declared Abebe Adugna, Chief Economist for Europe and Asia at the World Bank.
Since 2008, the Albanian economy has increased with a total of 12%, which makes it the country with the best growth, after Kosovo. But this has changed. This year, our country will have the lowest increase in the region, besides Bosnia, due to the deep crisis with the domestic demand.
“The domestic demand is in stagnation in the entire region, especially in Albania, Serbia, Bosnia and Montenegro, where investments and consumption have stagnated both in the public and private sectors”, declared Gallina Andranova, chief economist for Europe and Asia.
Bank experts warn that another danger for the economy are the bad loans, which remain the highest for the region.
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