Albania Country Report - July , 2016

August 12, 2016

This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of July 11, 2016 – August 13, 2016.
Albania’s central bank to rebuild Tirana landmark Hotel Dajti after controversial acquisition
CONFERENCE CALL: EU leaders reassure Western Balkans on integration after Brexit vote
Albanian parliament adopts judicial reform package after last minute delay
Bankers Petroleum expects to close transaction with Geo Jade by end-September
Albanian government abandons plans to have Becchetti extradited from UK
Albania’s National Lottery sold for €1 due to huge losses
S&P affirms 'B+/B' rating on Albania
Audit reveals Albanian banks illegally profited from damaged banknote scheme

Key points:
• Albania's inflation accelerates to 1.9% y/y in July
• Albania's economic growth gains speeds in Q1
• State budget surplus holds in H1
• Economic outlook index improves q/q in Q2
• Albania’s trade gap widens 25.4% y/y in H1
• Commercial bank deposits turn to growth at end-June

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