Albania Country Report - June, 2016

July 11, 2016

This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of June 13, 2016 – July 11, 2016.
IMF warns Albania re-emergence of government arrears poses key challenge
Albania and Kosovo inaugurate 400kW power transmission line
Shell starts exploration of Shpiragu-3 well in Albania
Albania likely not to be directly affected by Brexit
BALKAN BLOG: Albania faces EU accession deadlock over stalled judicial reforms
Albania's opposition Democratic Party accuses PM Rama of illegally funding Obama campaign
EBRD provides €218mn loan to support restructuring of Albanian power producer KESH
UK court turns down Albanian request for Leyton Orient owner's extradition
Albanian central bank keeps key rate at 1.25%

Key points:
• Albania's inflation speeds up to 1.2% y/y in June
• Albania’s trade deficit widens further through May
• Albania's jobless rate falls to 16.6% in Q1 - labour force survey
• Albania's registered jobless rate down 1.3pp y/y to 12% in Q1
• Albania turns to budget surplus in January-May
• Albania’s loan portfolio drops further in May
• Albania's commercial bank deposits edge down at end-May
• Albania's foreign visitors up 15.3% y/y in Q1

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