This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of November 8, 2014 - December 5, 2014.
After visiting the country in mid-November, the IMF said that Albania’s economic program is on track and the authorities’ policies and reforms, especially in the electricity sector, could restore economic growth.
Albania’s rank on Transparency International's Corruption Perceptions Index improved by 6 spots but its corruption problem was much bigger than what is observed in Montenegro, Serbia and Bosnia and Herzegovina.
The business sector believes that the government’s proposed tax reform that raises rates on certain corporate taxes as of next year would have a negative effect on the business environment. Regarding future growth, the Business Monitor International said it expects Albania's GDP to grow by 2.5% in 2015.
Key points:
• Central bank cuts key rate to new record-low of 2.25%
• Albania readies to tap foreign debt market in 2015
• Banking sector generates €60mn profit in Jan-Oct
• TAP to start building roads for pipeline in Albania next spring
• Albanian, Serbian PMs clash at historic Belgrade meeting
After visiting the country in mid-November, the IMF said that Albania’s economic program is on track and the authorities’ policies and reforms, especially in the electricity sector, could restore economic growth.
Albania’s rank on Transparency International's Corruption Perceptions Index improved by 6 spots but its corruption problem was much bigger than what is observed in Montenegro, Serbia and Bosnia and Herzegovina.
The business sector believes that the government’s proposed tax reform that raises rates on certain corporate taxes as of next year would have a negative effect on the business environment. Regarding future growth, the Business Monitor International said it expects Albania's GDP to grow by 2.5% in 2015.
Key points:
• Central bank cuts key rate to new record-low of 2.25%
• Albania readies to tap foreign debt market in 2015
• Banking sector generates €60mn profit in Jan-Oct
• TAP to start building roads for pipeline in Albania next spring
• Albanian, Serbian PMs clash at historic Belgrade meeting
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