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albania-faces-budged-hole-as-revenues-miss-target
30 Apr 15

Missed Targets Leave Hole in Albanian Budget

Deputy Finance Minister Irena Beqiraj has confirmed that government revenues are not meeting expectations, which may mean budget cuts later this year.

eu-helps-create-balkan-transport-network
22 Apr 15

EU Hails Balkan Transport Network Deal

Leaders of six Western Balkans countries meeting on Tuesday in Brussels agreed on plans for a regional transport network, to which the EU has pledged 130 million euros.

unfair-competition-from-informal-sector-and-corruption-haunts-business-leaders-in-the-balkans
13 Apr 15

Graft and Grey Economy Hindering Balkan Business, EBRD

A new survey from the European Bank for Reconstruction and Development, EBRD, shows that corruption, competition with the informal sector, complex taxes and lack of access to bank loans are the chief complaints of business leaders in the Balkans.

switzerland-to-help-albania-to-develop-a-new-gas-market
20 Mar 15

Switzerland Helps Albania Build Gas Market

Switzerland has granted Albania 6.6 million euro to build up its infrastructure so that it can 'reap the benefits' of the new Trans Adriatic Pipeline running from Turkey to Italy.

chinese-corporation-to-build-new-albanian-highway
17 Mar 15

Chinese to Build Albanian Highway to Macedonia

Albania aims to fast-track procedures to give the China State Construction Company the concession to build a highway running from Tirana to Dibra/Debar in western Macedonia.

government-of-albania-wants-550-million-new-debts-for-this-year
16 Mar 15

Albania Seeks 550 Million Euros of Credit

The finance ministry has opened an international bid for a 250 million euro partially-guaranteed loan and is seeking to reissue about 300 million euro of sovereign bonds to tackle the budget deficit.

bankers-petroleum-albania-achieved-highest-production-ever-in-2014
13 Mar 15

Albanian Oil Production Registers Peak in 2014

Revenues for the oil extraction industry in Albania soared to $583 million (€544 million) in 2014, although falling international oil prices suggest the upward trend is now over.

western-balkans-lag-in-structural-reforms-imf-says
11 Mar 15

Balkan Economies Falling Behind, IMF Warns

The Western Balkan are lagging behind other former Communist transitional countries and need to complete the transformation process that began two decades ago, an IMF report says.  

external-consultant-in-albanian-custom-fails-to-bring-in-cash
04 Mar 15

UK Firm's Aid Fails to Boost Albania's Customs

The Albanian government has admitted in a letter to the IMF that its contract with a British adviser, Crown Agents, has not yet resulted in the expected rise in customs revenues.

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.

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.

Politics and Society

albanian-judges-suspicious-wealth-escapes-scrutiny
01 May 15

Albanian Judges’ Wealth Escapes Scrutiny

The 25 judges of the Tirana Appeals Court collectively own real estate worth more than 5 million euro, in spite of earning only modest salaries - but attempts to query their assets have gone nowhere.

Culture and Lifestyle

kosovo-singer-gives-old-albanian-sounds-new-twist
29 Apr 15

Kosovo Singer Gives Old Albanian Sounds New Twist

Rona Nishliu, the singer who represented Albania in the 2012 Eurovision, is returning with a new album of old Albanian songs rearranged to suit her jazz rhythms.