Albanian government says that economic indicators are positive

Albanian government says that economic indicators are positive

Tirana, 24 June 2015/Independent Balkan News Agency

Ministry of Finance says that Albanian economy showed signs of improvement in 2014, registering positive growth figures, except for the third quarter. According to the ministry, the added value in the economy registered a 1.89% growth compared to 2013.

Bardhi Sejdarasi from the ministry of Finance, says that there are several factors that have played a role in these improvements. They mainly relate to the growth of private consumption and to a lower extent, to the growth of private investments and consumption in the public sector.

Budget revenues for the 12 month period amounted to 366.7 billion ALL, with an annual growth rate of 12.1% compared to 2013.

Meanwhile, in relation to GDP, they grew by 26% as opposed to 24.1% of GDP in 2013.

For 2014, incomes from taxes and customs were 10.7% higher than a year ago.

Ministry of Finance says that last year, customs administration collected 150.7 billion ALL or 11 billion ALL more than the previous year, with a growth of almost 8%.

Mr. Sejdarasi says that the boost of confidence in the economy and the favorable financial conditions have increased consumption and private investments during 2014.

According to him, private investments were positively impacted by the growing confidence of businesses, the growth of exploiting capacities, the growth of the number of new orders and more facilities in obtaining a loan.

Other figures which are identified as positive relate to exports, which for the period January-December 2014 were 3.8% higher than the same period a year ago.

Imports for the period January-December 2014 were 6.7% higher than the same period last year. Meanwhile, trade deficit for the period January-December 2014 has gone up by 9.4% compared to the same period a year ago. Exports cover imports at a rate of 46.3%.

The biggest negative contribution in the performance of exports was given by the accelerated drop of 12.3% of the export of minerals, fuel and electricity.

The exporting activity of the country continues to rely mainly on trade partners such as Italy, Malta, Spain, Greece and Turkey. On the other hand, the origin of imported products from Albania continues to have a larger variety, where EU countries occupy the main part of the total. /ibna/