Albania Monthly Report - April, 2016

May 10, 2016

This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of April 11, 2016 – May 10, 2016.
IMF keeps Albanian 2016 economic growth forecast at 3.4%
Albanian c-bank cuts key rate further to 1.25%
China Everbright and Friedmann Pacific sign deal to acquire Tirana airport operator
Albania to build new national stadium in Tirana worth €50mn
Tirana court launches bankruptcy procedure against Albanian steel maker Kurum
Albanian government to renegotiate terms on TAP gas pipeline project
Albania to probe deals over power distribution company with Czech utility CEZ

Key points:
• Albania's CPI edges up 0.3% y/y in April
• Albania's economic outlook index drops 5.7pp q/q in Q1
• Q1 trade gap widens 16% y/y
• Albania's commercial bank loan portfolio down 1.8% y/y at end-March
• Growth of Albania's commercial bank deposits edges up to 0.9% y/y at end-March
• Albania's NPL ratio falls y/y to 18.9% at end-March, up 1.5pp q/q

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