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imf-frees-53-million-euro-loan-to-albania
23 Feb 15

IMF Releases 53 million Euro Loan to Albania

The Ministry of Finance says that the IMF has approved the release of the loan after several months of difficult negotiations and increases in tax and electricity prices.

low-prices-and-floods-hits-albanian-petroleum-industry
17 Feb 15

Falling Oil Price Hits Albanian Petroleum

Albania’s main petroleum extraction company has announced further cuts to its investment programme, blaming the fall in oil prices worldwide.

albania-18-million-agreement-with-ebrd-for-bypass-road
03 Feb 15

EBRD Helps Albania Finance Vlora Bypass

Albania on Tuesday signed an agreement with the European Bank of Reconstruction and Development, EBRD, for the financing of the Vlora bypass road in southern Albania.

world-bank-cuts-croatian-gdp-growth-predictions
14 Jan 15

World Bank Revises Croatia's GDP Growth Down

In more bad news for the struggling centre-left government, the World Bank has altered its earlier forecast of Croatia’s GDP growth in 2015, cutting it from 1.2 to 0.5 per cent.

albania-oil-industry-halts-investments-due-to-the-weak-international-price
07 Jan 15

Tumbling Prices Hit Albania's Oil Industry Hard

Falling oil prices have dealt a heavy blow to the increasingly important oil extraction business in Albania, which will have knock-on effects for Albania's economy generally.

albania-introduces-new-social-pension-scheme
05 Jan 15

Albania Launches New Pensions for Poorest

The new social insurance scheme will give payments of 50 euro per month to people older than 70 who have not made any pension contributions.

coal-no-answer-to-albania-and-kosovo-energy-market
26 Dec 14

Joint Albania-Kosovo Power Market Worries Think Tank

A report by Kosovo’s GAP institute says that while the creation of a common energy market between Kosovo and Albania would lower costs, it must not lead to the building of more high-polluting coal power stations in Kosovo.

no-economic-recovery-in-sight-for-croatia-and-serbia
18 Dec 14

Raiffeisen Gloomy About Croatia, Serbia Economies

Regional analysis conducted by Raiffeisen bank says the economies of Serbia and Croatia saw no growth in 2014 and will not do much better in 2015 - while the outlook for other countries is somewhat brighter.

crime-and-corruption-left-a-100-billion-hole-in-balkan-economies
16 Dec 14

Illicit Outflows Rob Balkan Economies of $100bn

A study by Global Financial Integrity, GIF, says illicit money outflows robbed Balkan countries of the equivalent of more than 100 billion dollars during the last decade.

purchasing-power-in-region-far-below-eu-average
12 Dec 14

Albania and Bosnia Lag in Europe GDP Table

Albania and Bosnia have the lowest GDP per capita of 37 European countries examined, while Bulgaria is the EU's poorest country, the bloc’s statistics office, Eurostat, said on Thursday.

albania-to-slash-prices-for-independent-electricity-producers
03 Dec 14

Albania to Slash Independent Electricity Purchase Price

The Albanian government has announced that it will cut the wholesale price paid for electricity produced by independent companies, arguing that is too high.

albanians-face-higher-taxes-as-government-struggle-to-cut-deficit
05 Nov 14

Albania Plans to Hike Taxes to Curb Deficit

Albanians will have to pay more in taxes on tobacco and petrol next year, as well as higher income tax, the draft 2015 budget indicates.

balkans-creating-a-better-economic-climate
29 Oct 14

Balkans Do Better in 'Doing Business' Report

Most Balkan states have improved their positions in the World Bank's latest “Doing Business” report - some much more than others.

albania-to-launch-receipt-lottery
07 Oct 14

Albania Hopes New Lottery Will Curb Tax Cheats

In a new effort to curb the extensive "grey" informal economy - and boost its own revenues - the Albanian government is planning to launch a new lottery based on receipts for purchases.

albania-s-growth-slumps-in-second-quarter-of-2014
06 Oct 14

Albania’s Growth Slumps in Second Quarter of 2014

Albania's GDP fell by 0.6 per cent in the second quarter of 2014, the National Institute of Statistics said, frustrating government expectations of higher growth.

Politics and Society

albanian-public-debt-reaches-new-heights
02 Mar 15

Albanian Public Debt Reaches New Heights

Government-held debt increased by 622 million euro in 2014, while debt as a percentage of GDP reached 69.1 per cent, the highest figure in more than 15 years.

Culture and Lifestyle

vienna-s-albanians-get-in-on-the-mozart-act
21 Nov 14

Vienna’s Albanians Get in on the Mozart Act

Impersonating Wolfgang Amadeus is big business in Vienna - but these days many of the men in wigs are not Austrian but Albanian.