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Albania increases its gold reserve, there are 3.42 tons of gold in the tunnels of the Central Bank

2023-12-26 23:41:37Biznes SHKRUAR NGA REDAKSIA VOX
Albania increases its gold reserve, there are 3.42 tons of gold in the tunnels
Albania increases its gold reserve, there are 3.42 tons of gold in the tunnels of the Central Bank

Albania has increased its gold reserve by 310 kilograms in the last year. There are now 3.42 tons of physical gold bars or bullion in the Central Bank tunnels, up from 3.11 tons last year.

"The increase in the gold reserve has served and serves to increase the degree of security of the national economy, independence in the economic sense of the word. Today, gold does not have the importance it used to have, but it regains it every time there are periods of crisis," says Zef Preçi, an expert on the economy.

Although it has increased the amount through purchases in the last three years, Albania has low amounts of gold reserves compared to the countries of the Western Balkans.

The country currently has an amount over 11 times lower than Serbia or almost three times less than North Macedonia. Montenegro with less than 1.2 tons and Kosovo, which has no reserves at all, are listed last in the region.

"Actually, after the dissolution of the former Yugoslavia, Serbia would have to share the foreign currency reserve as well. She didn't do it, so even today Kosovo has no gold reserves".

Despite the fact that the "Gold Standard" has lost almost all its meaning, for experts it remains important to expand the country's gold reserve.

"And in this regard, I wish and hope that appropriate decisions are taken to increase the gold stock."

The data show that in the world the United States of America has the largest gold reserve in the world with 7 thousand 133 tons, followed by Germany, Italy, France, Russia and China. /A2


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