Albania Developers Seek Government Help

Tirana, Jan, 27, 2008 (AE) – An association of construction companies in Tirana asked for “immediate government help” on Monday, claiming that the Global Financial Crisis could sent them into bankruptcy.

“We suffered two and a half years of artificial crisis created by the government while now banks are more pinch penny”, Ilir Hebovija, an official of Albanian Construction Association told the local press. “Some of the companies may not survive the crisis”, he added.

According to the association, the Albanian government should follow the example of the US and EU in helping some of these companies.

“Some companies are too big to go out and their failure could affect other companies”, Mr. Hebovija said.

The construction industry is responsible for Albania’s 40 per cent loan portfolio. Construction accounted for 14.5 per cent of Gross Domestic Product in 2007.

Short URL: http://www.albanianeconomy.com/news/?p=1734

Posted by editor on Jan 27 2009. Filed under Banking & Finance, Business, Economy, Invest-Inform, Top News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry