Economy of Albania

"At first we were prejudiced because we were newcomers, but we soon got used to the place," he added.

Hasani said that his business has seen a decline in revenue in recent years, but he remains satisfied, although he wants local and central government in Albania to invest more in improving utility services.

TIRANA, Feb 12 /ATA/ – The government’s pro-business climate reforms and its position as an important gateway for south-eastern European and Balkan countries have helped Albania to attract around 13 percent of the foreign investments volume in the region.
Foreign direct investments (FDI) to surpassed one billion dollars in 2017, while the FDI inflow is expected to be higher in 2018.

Albania's GDP is expected to show better-than-expected growth during this year and in 2018, as result of a good climate for domestic and international investment as well rising private consumption.

A new privately run stock exchange is due to open in Albania in October, after three years of the country not formally having such an institution.

The Tirana Stock Exchange, TSE, opened in 1996, first as a department of the Albanian Central Bank and later as a joint-stock company.

Business ties between Albania and China are strengthening as Chinese companies acquire players in strategic sectors of the Albanian economy.

In addition, China emerged as the second-largest trading partner for Albania during March, accounting for 7.7 per cent of the country's total international trade, leaving behind traditional trading partners like Greece and Turkey.

Bankers Petroleum announced on Monday that the National Agency for the Management of Natural Resources in Albania had agreed with the idea of holding an independent evaluation of its investments as part of efforts to end the tax dispute.

Albanian police on Thursday said they had arrested two hairdressers for working in a side-street shop in Tirana that was not registered with the tax authorities.

According to police, Taulant Hasanaj, 29, was arrested for resisting a tax inspector while Indrit Lluka, 33, was arrested for "conducting an economic activity... unregistered in the tax office."

Records of treasury transactions published by Open Data Albania, a Tirana-based watchdog, show Albania's Ministry of Justice paid 36,000 lek (about 250 euros )to the Albanian Football Federation on October 8 for football tickets.

In the first nine months of 2014, the municipality of Tirana spent more than 20.4 million lek (€145,600) in advertising in several national daily newspapers, while all other municipalities in the country spent a total 3 million lek (€21,400) during the same period. 

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