The Letter From The Consulate
No. 181.
Gentofte/Copenhagen, Monday 9. May 2022 |
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Dear reader,
Reading about economics and statistics is not as boring as many people think. Especiallly when economy and cuisin are combined as done by The Finnacial Times. See article below. Enjoy!
Bank of Albania:
The Bank of Albania’s Supervisory Council decided on May. 4 to keep the key interest rate unaltered at 1%, print and electronic media report. In a press conference held to comment on the Supervisory Council’s decisions, BoA Governor Gent Sejko said that inflation is expected to remain above the BoA’s targets for a longer time, while the pace of economic growth – albeit positive – would be lower than the central bank’s start-of-year projections. According to him, the Albanian economy continues to be under the influence of the shock caused by the conflict between Russia and Ukraine. “However, the Supervisory Council notes that the Albanian economy will preserve its monetary and financial stability,” Sejko said.
To read about the FIAA click on picture or here..
World Bank:
A robust recovery took place in Albania in 2021, thanks to policy stimulus and resurgence of travel, construction, and extractive activity, says the World Bank’s latest Western Balkans Regular Economic Report. “Real GDP increased by 8.5 percent, fully recovering from the recession caused by the pandemic. Although growth in 2021 was broad-based, public debt remains high, however. Credit to the private sector grew strongly during 2021 for both enterprises and households. Similarly, bank deposits continued to expand by 10.3 percent, with household savings forming around two-thirds of growth of total deposits in the banking system. Direct foreign investment increased in 2021, reaching 6.4 percent of GDP due to investments in extractives, banking, and telecommunications. The fiscal deficit declined to 4.5 percent of GDP in 2021, as a result of strong revenues,” reads a press release issued in regards to the report.
INSTAT - Institute of Statistics
To read a lot more click on picture or here....
The Financial Times praises Albanian cooking!
Unfortunately it´s business, so you must subschribe to read the article.at FT :-(
You can find the interesting text here at Shqiptarja.com in Albanian and translate it, if needed.
That´s all for now,
sincerely,
Hans-Georg Nielsen
Albanian Honorary Consul
Comments and suggestions are welcome on hgn(at)albanskkonsulat.dk
PS. This newsletter is mainly sent to relevant Danish and Albanian authorities, to Danes who have shown interest in Albania, to Albanians living in Denmark and to the friends and contacts of the consulate.
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