Albanian saw quality of life stagnate as rest of region improved, according to EBRD report

Albanian saw quality of life stagnate as rest of region improved, according to EBRD report

TIRANA, Jan. 31, 2024 – A recent report by the European Bank for Reconstruction and Development (EBRD) has highlighted a stark contrast in the perception of quality of life between Albania and other countries in Southeast Europe and the Western

Read Full Article
Ryanair unveils expansion plans and new routes from Tirana International Airport

Ryanair unveils expansion plans and new routes from Tirana International Airport

TIRANA, Jan. 24, 2024 – Europe’s largest airline, low-cost Irish carrier Ryanair, is doubling down in Albania with six new direct destinations to complement its existing 16 and the announcing of plans to open a base in Tirana as early

Read Full Article
Taxpayers bail out air traffic control company whose foreign accounts were seized by Belgian court to pay Becchetti

Taxpayers bail out air traffic control company whose foreign accounts were seized by Belgian court to pay Becchetti

TIRANA, Jan. 24, 2024 – The Albanian government has had to pump millions of euros to keep afloat Albcontrol, the state-owned company responsible for air navigation services in Albanian airspace, as its foreign accounts have been frozen by the order

Read Full Article
Emigration is top economic risk to Albania, says EBRD head

Emigration is top economic risk to Albania, says EBRD head

TIRANA, Jan. 14, 2024 – A potential deepening demographic crisis due to the increased emigration of young people is one of the top economic risks Albania faces, according to the head of the European Bank for Development in Albania EBRD’s

Read Full Article
Reflecting higher emigration, remittances to Albania hit decade high

Reflecting higher emigration, remittances to Albania hit decade high

TIRANA, Dec. 14, 2023 – Reflecting renewed emigration, remittances to Albania during 2022 saw a significant increase, reaching the highest levels of the past decade, data released by Eurostat this week reveals. According to Eurostat, remittances exceeded €1.2 billion in

Read Full Article
EU and Germany invest €14.6 million on waste management project in Albania

EU and Germany invest €14.6 million on waste management project in Albania

TIRANA, Nov. 15, 2023 – The European Union and the German Federal Ministry for Economic Cooperation and Development (BMZ) are investing €14.6 million on a project aimed at improving waste management in Albania.   The “EU for Circular Economy and Circular

Read Full Article
First in Europe, Albania ranks third globally in tourism growth – UNWTO report

First in Europe, Albania ranks third globally in tourism growth – UNWTO report

TIRANA, Nov. 6 – The United Nations World Tourism Organization (UNWTO) has revealed that Albania secured the third position globally in terms of tourism sector growth during the first seven months of 2023, compared to the same period in 2019. 

Read Full Article
Bank of Albania increases key interest rate, again, aiming to tackle inflation 

Bank of Albania increases key interest rate, again, aiming to tackle inflation 

TIRANA, Nov. 2, 2023 – Albania’s central bank supervisory council has announced another hike in Bank of Albania’s key interest rate, up by 0.25 percentage points, bringing it to a rate of 3.25 percent. Inflation has seen a declining trend

Read Full Article
Albania’s removal from FATF money laundering gray list met with optimism

Albania’s removal from FATF money laundering gray list met with optimism

TIRANA, Oct. 29 – Albania’s recent removal from the Financial Action Task Force (FATF) gray list of countries grappling with money laundering deficiencies has garnered cautious optimism, with financial experts emphasizing the need for continued vigilance.  The decision, made by

Read Full Article
Albania’s exports hit hard by currency strength

Albania’s exports hit hard by currency strength

TIRANA, Sept. 20, 2023 – Albania’s exports saw a sharp decline of almost 22 percent year-on-year, according to the latest official data, with exporters blaming the local currency’s strength making Albanian products more expensive in the EU market.  In August

Read Full Article