Tirana, 25 June 2011 (albanianeconomy.com) Saudi Arabia fund for development had accepted to lend 25 million USD to the Government of Albania for the construction of a highway, the Ministry of Finance announced on Friday
Funds tells Albania to increase taxation and cut expenditures to close debt gap – but Tirana government does not appear to be listening.
Gjergj Erebara Tirana
Tirana, 9 June 2011 (albanianeconomy.com) The Real Estate prices in Albania had been cut by 10-15 per cent over the last few months but still the demand remains weak, the local Association of Construction said on Friday.
Albania’s constitutional court on Thursday deprived Ilir Beqja, an outspoken opposition deputy, of his parliamentary mandate, after a company he owned was found to have benefitted from a public tender.
Besar Likmeta Tirana
Tirana, 13 June 2011 (albanianeconomy.com) Non-farm employment in Albania increased by 4.3 per cent to 248,375 employees during the first semester 2011 year on year basis, figures published by the Institute of Statistics shows. Employment in Albania had continued to grow despite the mounting business difficulties of the last two years albeit from a small basis.
Tirana, 9 June 2011 (albanianeconomy.com) Association of Banks of Albania expressed publicly concern over the difficulties experienced by several banks in confiscating and liquidating the collateral of the underperforming loans, urging the government to facilitate the procedures.
Tirana, 9 June 2011 (albanianeconomy.com) The Consumer Price Index stood at 4.2 per cent on May compared to one year earlier despite the seasonal cooling effect of locally produced agricultural goods, the national Institute of Statistics announced.
Albania is reportedly seeking a 600 million Saudi Riyal loan (€109.8 million) from the Gulf Kingdom in order to finance the construction of a new parliamentary complex in Tirana.
Besar Likmeta Tirana
Serbian President Boris Tadic and Benetton Group President Luciano Benetton were in Nis on Tuesday, where the Italians acquired local textile maker Nitex for three million euros.
Banks in Albania experienced another weak earnings month in April despite robust growth in deposits and loans while the nonperforming loans showed the fastest monthly increase since January, statistical data collected from the Central Bank shows.