Bank of Albania on 1H 2024: economic growth and improved financial stability

Published on September 22, 2024

In the first half of 2024, the Albanian economy demonstrated resilience and steady growth, according to a report by the Bank of Albania. Key sectors,...

Why does it matter?

For Albania, this economic and financial growth is critical as it strengthens the country’s ability to attract foreign investment and align with EU standards. Increased bank lending and steady deposit growth indicate rising confidence in the economy, which supports business expansion and consumer spending. These developments are vital for Albania’s push to modernize its economy, reduce unemployment, and boost infrastructure. However, managing risks like geopolitical tensions and market overconfidence is key to ensuring this progress is sustainable and resilient.


In Focus


1. Albania’s SEPA membership: a major milestone in EU integration

September 17, 2024

Albania is moving toward membership in the Single Euro Payments Area (SEPA), following the official submission of its application in June 2023. With the backing of institutions like the European...

Why is it important

SEPA membership will streamline cross-border euro payments, making them as easy and affordable as domestic transactions. This alignment with EU financial regulations, particularly those related to the free movement of capital (Chapter 4 of the Acquis Communautaire), strengthens Albania’s position as it works toward full EU membership. The move will not only lower the cost of financial transactions but also embed Albania into the European financial and regulatory framework, marking significant progress in its EU integration journey.


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Bank of Albania on 1H 2024: economic growth and improved financial stability

Published on September 22, 2024

In the first half of 2024, the Albanian economy demonstrated resilience and steady growth, according to a report by the Bank of Albania. Key sectors,...

Why does it matter?

For Albania, this economic and financial growth is critical as it strengthens the country’s ability to attract foreign investment and align with EU standards. Increased bank lending and steady deposit growth indicate rising confidence in the economy, which supports business expansion and consumer spending. These developments are vital for Albania’s push to modernize its economy, reduce unemployment, and boost infrastructure. However, managing risks like geopolitical tensions and market overconfidence is key to ensuring this progress is sustainable and resilient.


Albania ranks 2nd globally in tourism growth for 2024

Published on September 22, 2024

Albania has seen a 93% increase in foreign tourists in the first seven months of 2024, making it the second-fastest-growing destination worldwide. The data comes...

SPAK sends former Himara Mayor Jorgo Goro to trial for corruption and asset concealment

Jorgo Goro

Published on September 22, 2024

Albania’s Special Prosecution Office Against Corruption and Organized Crime (SPAK) has sent former Himara Mayor Jorgo Goro and several of his former subordinates to trial,...

PAA pressures Democrats ahead of 2025 elections

Published on September 22, 2024

In the lead-up to the 2025 elections, small parties like the Agrarian Environmentalist Party (PAA) negotiate with major parties to secure parliamentary seats and influence....

Flamingos return to Pogradec amid Albania’s conservation efforts

Published on September 22, 2024

Albania’s flora and fauna suffered greatly in the past due to excessive hunting, leading to a drastic decline in bird populations, particularly migratory species. With...

American blogger accuses Daily Mail of distortion in negative portrayal of Albania

Published on September 22, 2024

A recent article by “Daily Mail”, quoted 19-year-old American solo traveler and blogger Eve Kovac (@outdoor.eve) expressing that she felt unsafe during her trip to...

Why is this important

Tourism is one of the most important sectors of Albania’s economy and negative portrayals can unjustly deter visitors. By spreading inaccuracies, media like Daily Mail contribute to a false perception of Albania that doesn’t reflect the country’s true safety and hospitality.


Envisioning the Sovereign State of the Bektashi Order

Published on September 21, 2024

The world’s newest and smallest state, only 27 hectares in size, is being planned to be established in the Albanian capital, Tirana. Although still just...

Why is this important

Modeled after the Vatican, although only a quarter of its size, the declared goal of this project, as Prime Minister Rama revealed in an interview with The New York Times, is to promote a tolerant version of Islam—a tolerance that Albania proudly upholds.


Kurti escalates accusations against West, shows no sign of changing course

Albin Kurti

Published on September 21, 2024

Kosovo Prime Minister Albin Kurti has intensified his criticism of Western officials, accusing them of “appeasement” toward Serbia amid fears of Belgrade’s ties with Moscow....

Why is this significant

Kurti’s accusations are significant because they highlight his refusal to heed calls from Kosovo’s key partners to shift stance and risk straining further Kosovo’s relationship with the EU and the U.S., which are critical to Kosovo’s political and economic support.


Democratic Party MP Salianji appears in court surrounded by Democratic Party MPs for appeal in ‘Babale’ case

Ervin Salianji

Published on September 20, 2024

Democratic Party MP Ervin Salianji appeared at the Court of Appeals today accompanied by a large group of Democratic Party MPs as final arguments were...

EU accession roadmap outlines 118 reform measures for democratic institutions

Published on September 20, 2024

The draft roadmap “For the Functioning of Democratic Institutions,” presented by the EU accession negotiating team to the Committee on European Affairs, proposes 118 reform...

Why is this important

The strategic document guides the reforms Albania’s institutions will undertake during the EU accession negotiation process. Besides legislative improvements, the second set of reforms addresses the electoral process and the role of civil society.


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Albania ranks 2nd globally in tourism growth for 2024

Published on September 22, 2024

Albania has seen a 93% increase in foreign tourists in the first seven months of 2024, making it the second-fastest-growing destination worldwide. The data comes...

SPAK sends former Himara Mayor Jorgo Goro to trial for corruption and asset concealment

Jorgo Goro

Published on September 22, 2024

Albania’s Special Prosecution Office Against Corruption and Organized Crime (SPAK) has sent former Himara Mayor Jorgo Goro and several of his former subordinates to trial,...

PAA pressures Democrats ahead of 2025 elections

Published on September 22, 2024

In the lead-up to the 2025 elections, small parties like the Agrarian Environmentalist Party (PAA) negotiate with major parties to secure parliamentary seats and influence....

Flamingos return to Pogradec amid Albania’s conservation efforts

Published on September 22, 2024

Albania’s flora and fauna suffered greatly in the past due to excessive hunting, leading to a drastic decline in bird populations, particularly migratory species. With...

American blogger accuses Daily Mail of distortion in negative portrayal of Albania

Published on September 22, 2024

A recent article by “Daily Mail”, quoted 19-year-old American solo traveler and blogger Eve Kovac (@outdoor.eve) expressing that she felt unsafe during her trip to...

Why is this important

Tourism is one of the most important sectors of Albania’s economy and negative portrayals can unjustly deter visitors. By spreading inaccuracies, media like Daily Mail contribute to a false perception of Albania that doesn’t reflect the country’s true safety and hospitality.


Envisioning the Sovereign State of the Bektashi Order

Published on September 21, 2024

The world’s newest and smallest state, only 27 hectares in size, is being planned to be established in the Albanian capital, Tirana. Although still just...

Why is this important

Modeled after the Vatican, although only a quarter of its size, the declared goal of this project, as Prime Minister Rama revealed in an interview with The New York Times, is to promote a tolerant version of Islam—a tolerance that Albania proudly upholds.


Kurti escalates accusations against West, shows no sign of changing course

Albin Kurti

Published on September 21, 2024

Kosovo Prime Minister Albin Kurti has intensified his criticism of Western officials, accusing them of “appeasement” toward Serbia amid fears of Belgrade’s ties with Moscow....

Why is this significant

Kurti’s accusations are significant because they highlight his refusal to heed calls from Kosovo’s key partners to shift stance and risk straining further Kosovo’s relationship with the EU and the U.S., which are critical to Kosovo’s political and economic support.


Democratic Party MP Salianji appears in court surrounded by Democratic Party MPs for appeal in ‘Babale’ case

Ervin Salianji

Published on September 20, 2024

Democratic Party MP Ervin Salianji appeared at the Court of Appeals today accompanied by a large group of Democratic Party MPs as final arguments were...

EU accession roadmap outlines 118 reform measures for democratic institutions

Published on September 20, 2024

The draft roadmap “For the Functioning of Democratic Institutions,” presented by the EU accession negotiating team to the Committee on European Affairs, proposes 118 reform...

Why is this important

The strategic document guides the reforms Albania’s institutions will undertake during the EU accession negotiation process. Besides legislative improvements, the second set of reforms addresses the electoral process and the role of civil society.


Freeze of ethnic quotas in the public sector in North Macedonia

Published on September 20, 2024

The Constitutional Court in North Macedonia has temporarily halted public sector hiring based on ethnic quotas, pending a final ruling on the constitutionality of the...

Why is this significant

The decision could fuel inter-ethnic tensions in North Macedonia, where relations between the ethnic Macedonian majority and the ethnic Albanian community, which comprises about a quarter of the population, remain shaky.


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