The region in search of partnership and economic "prosperity".

2023-06-01 14:06:16Politikë SHKRUAR NGA REDAKSIA VOX
Regional Summit of Governors, Ministers of Finance and Directors of Tax Administration

The countries of the region have come together at the Regional Summit of Governors, Ministers of Finance and Directors of Tax Administration, held in Budva, Montenegro to discuss the most important issues that have affected their economies such as the Covid 19 pandemic as and the war in Ukraine and to share experience in order to identify the best solutions for businesses and citizens and to avoid review.

High representatives from Albania, Kosovo, Montenegro, North Macedonia, Croatia, Serbia, Slovenia and Bosnia-Herzegovina took part in the Summit.

Our country was represented by the First Deputy Governor of the Bank of Albania, Luljeta Minxhozi, who emphasized that Albania is aiming to reduce inflation to 3%, which is currently 4.6 percent. According to her, if the forecasts and goals go as they should, then Albania may have the lowest inflation in Europe. She has shown that like every country in the world, Albania too has been affected by a high level of inflation, especially during the past year. "Even we have been affected by inflation. For the month of April 2023, the inflation rate was recorded at 4.6 percent. However, we are better than many countries in the region.

But, our aim is for it to decrease, even up to 3 percent". Minxhozi has also listed the challenges the state has faced in recent years. "Albania has had some difficult years. We have been affected by the earthquake, which caused great damage in many cities. We have also been affected by Covid, like every country in the world, and recently also with the war in Ukraine, which has had an impact on the economy".

In this Summit, they are discussing various topics for the economy of the states, such as unemployment, lack of labor force, salary increase, informality, tax revenue administration and finding the most appropriate ways to formalize the economy.

At the Regional Summit, all countries have shown the economic and financial situation their countries are facing and the measures that have been taken to minimize the consequences.

The representatives of the countries of the Western Balkans have emphasized that from Covid and the war in Ukraine they have suffered economic shocks while they have shown that inflation, price increases and interest rates on loans are the topics that are being discussed the most in their countries.

In Serbia, inflation is currently over 8 percent. In Montenegro it is 17.2 percent, in Kosovo over 10 percent, in Croatia nearly 8 percent, in Albania 4.6 percent. Slovenia has an inflation level of 9.4 percent, Bosnia and Herzegovina 7 percent, while North Macedonia reaches the record with an inflation level of 13.4 percent.

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