Why is this important: This budget increase exceeds both the national economic growth rate and the overall revenue increase, reflecting the government’s strategic focus on strengthening local governance. The significant allocation underscores the importance placed on municipalities and the role they play in the country’s development.

Why does it matter: Through interest rate cuts, the Bank of Albania stimulates borrowing and investment, which can help to cushion the economy against downturns. For Albania, this decision reflects a proactive approach to keeping price levels in check and ensuring that economic growth is not hindered by restrictive monetary conditions.

Why is this important: These economic indicators signal positive momentum for Albania, with stable growth and inflation control contributing to a healthier financial environment. The reduction in inflation and the strengthening currency may boost consumer confidence and economic stability.

Why is this important: Electricity prices have been a major concern for Albanian households, and the planned reduction is significant news. Currently, the price stands at 9.5 lek per kilowatt-hour (kWh) without VAT, increasing to 11.4 lek per kWh with VAT. Balluku explained that ongoing collaboration with OSHEE (the state electricity distribution company) and KESH (the Albanian Power Corporation) aims to optimize processes, allowing for more affordable rates from the beginning of 2025.

Why is this important: The New Bridge provides a solution to an old traffic bottleneck linking the two sides of the lake with the national road, replacing the old bridge and significantly easing traffic flow in the area. Initially started in 2007 by the government of the Democratic Party, many large-scale projects, including this bridge, were not completed, leading authorities to reroute traffic to the old bridge, built 45 years earlier.