Albania Country Report - March, 2016

April 11, 2016

This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of March 10, 2016 – April 11, 2016.
INTERVIEW: Albanian president says politics needs to change to enable reforms
China’s Geo-Jade Petroleum buys Albania-focused Bankers Petroleum
Tirana court to rule on bankruptcy of top Balkan steel producer Kurum
EBRD to provide €218mn loan to Albanian power producer KESH
Albanian govt okays sale of state-owned insurer Insig to local peer Eurosig
Petromanas closes sale of Albanian assets to Shell
Albanian c-bank cuts key rate to record low of 1.5%
World Bank cuts Albania’s GDP growth projections to 3.2% in 2016
IMF reaches staff-level agreement for completion of seventh review of Albania’s EFF arrangement
Albanian police extends presence along Greek border for possible influx of migrants

Key points:
• Albania’s CPI inflation edges up to 0.3% y/y in March
• Jan-Feb state budget revenues 1% above plan
• Albania’s insurance market down 4.7% y/y in Jan-Feb
• Albania’s net power generation up 24.1% y/y in 2015
• Commercial bank loan portfolio down 2.2% y/y at end-February
• Growth of Albania’s gross external debt accelerates to 10.1% y/y at end Q4
• Albania’s 2-month trade gap widens 11.8% y/y

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