- Language: English
- 58 Pages
- Published: August 2012
- Region: India
Albania Monthly Country Report
- Published: August 2013
- Region: Albania
- 20 Pages
- Emerging Markets Direct
The Albania Country Report is a monthly report, covering the major macroeconomic indicators and trends in Albania, as well as important political developments. Prepared by local analysts, it provides the most accurate data, updated regularly according to the data changes noted by the whole range of statistics sources. It will save the time you would need to track the figures and sources independently and will provide you with thorough analysis.
- More than a month after the June 23 general elections won by the Socialist-led coalition, PM-designate Edi Rama is still shaping his cabinet. Rama started meetings with nominated ministers and said he will form the government in September. The new parliament will convene on September 9. The left-wing coalition comprising the Socialist Party (SP) and the Socialist Movement for Integration (SMI) won 84 mandates in the 140-seat parliament against 56 mandates for the coalition led by former ruling Democratic Party (DP).
- On the macroeconomic front, the statistics office said consumer prices in the country grew by 1.6% y/y in July easing from a 2.3% annual hike in June with the overall trend again determined by food prices. The unemployment rate stayed at 12.8% for the second straight quarter in Q1 with the number of unemployed Albanians totalling 142,000.
- Albania’s general government debt increased by 1.4% q/q to ALL 871.9bn (EUR 6.21bn) at end-June 2013 and accounted for 60.9% of the projected full-year GDP, up by 0.8pps q/q. The general budget deficit expanded by 114% y/y in the first five months of 2013 and accounted for 2.7% of the projected full-year GDP, up from 1.3% a year earlier. SHOW LESS READ MORE >
1. EXECUTIVE SUMMARY
2. MACROECONOMIC OVERVIEW
World Bank calls on new Albanian govt to keep fiscal discipline, launch structural reforms.
Central bank cuts base interest rate to record-low of 3.50%
Government approves pension, wage hikes
3. REAL SECTOR
CPI inflation eases to 1.6% y/y in July.
2. Labour market
Unemployment rate remains flat at 12.8% in Q1 2013
4. FISCAL SECTOR
General budget deficit surges in H1 2013 on pre-election spending.
Public debt rises 1.4% q/q in Q2 2013.
5. FINANCIAL SECTOR
Bank assets rise 5.2% y/y at end-June 2013.
Bank lending growth speeds up to 0.9% y/y in June 2013.
Albanian banks continue to tighten credit rules for businesses in Q2 2013
Insurers’ premiums drop 2.9% y/y in H1 2013.
6. EXTERNAL SECTOR
Balance of payments
Foreign trade gap
7. PRIVATISATION AND INDUSTRY NEWS
New Albanian government vows to review concessionary contracts
Statkraft, Alstom sign EUR 100mn deal for Albanian energy project.
Cabinet approves concession deal with Kurum for Cerrik oil refinery.
New Albanian parliament to convene on Sep 9
List of Tables
Table 1 CPI
Table 2 Labour force survey
Table 3 General budget
Table 4 Commercial banks profit
Table 5 Insurance premiums
Table 6 Foreign trade
List of Figures
Figure 1 CPI
Figure 2 Bank assets
Figure 3 Bank lending
Figure 4 Foreign trade