The Albanian government intends to offer an amnesty in the upcoming months for businesses which have worked illegally as an instrument for the formalisation of the grey economy, Finance and Economy Minister Anila Denaj said on March 2.
"The initiative will be implemented under the international standards and will include foreign experts. It aims to improve another aspect towards the formalisation of the economy, which has already begun with the process of introduction of fiscal rules," Denaj said.
"For the Albanian government, formalising the economy is a priority for its development, as well as strengthening all measures to improve equity between businesses," Denaj said.
According to business association Konfindustria Albania’s informal economy equals 50% of Albania’s GDP.
EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more
Albanian banks reported profits of ALL28.5bn (€271.7bn) in 2023, according to data from the Albanian Association of Banks. All banks in the country reported a profit for the year. The most ... more
This Southeast Europe Outlook 2024 has been prepared by bne IntelliNews as part of a series of annual reviews providing updates on the geopolitical, macroeconomic and commercial state of ... more