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The devaluation of the euro is a "normal situation" for the Bank of Albania

2023-04-29 18:22:16Biznes SHKRUAR NGA REDAKSIA VOX
The devaluation of the euro is a "normal situation" for the Bank of
The Bank of Albania

The Bank of Albania has surrendered in the face of the devaluation of the euro, at least in the unofficial response that has arrived from this institution to the concerns raised by export business associations.

These associations say that they have lost 8 to 10 percent of the value of the products they export, and if the euro stays at these rates, or continues its further devaluation, they warn of layoffs.

About 200,000 are estimated to be employed by manufacturing and exporting businesses in Albania. Seven of their associations addressed this week with a letter to the Bank of Albania and the Ministry of Finance requesting first a proper analysis of the causes of the devaluation and then finding the means and mechanisms to intervene.

However, the Bank of Albania does not share the same concern with businesses and considers the devaluation of the euro by 9 percent within a year as normal, at least in the unofficial response it has given to businesses.

Businesses have asked the Bank of Albania to intervene in the market to reduce the amount of euros through the purchase of the common European currency. For this year, the Bank of Albania anticipates buying up to 220 million euros. In the first three months of this year, the amount purchased is almost 50 million euros. /VoxNews


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