Albania Monthly Report - May, 2016

June 13, 2016

This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of May 10, 2016 – June 13, 2016.
EBRD keeps 2016 GDP projection for Albania at 3.3%
Works on TAP gas project launched in Thessaloniki
Wizz Air adds capacity in Southeast Europe
Intesa Sanpaolo to provide €1bn loan to local SMEs involved in China’s Belt and Road Initiative in SEE
Albanian recovery "gaining strength", IMF says
Bankers Petroleum’s shareholders approve proposed acquisition by China’s Geo Jade
Albanian police director suspended over wiretapping device scandal

Key points:
• Albania's inflation rises to 0.7% y/y in May
• Albania's producer prices down 4.1% y/y in Q1
• Albania turns to cons budget surplus of €118mn in January-April
• Albanian insurance market returns to growth in January-April
• Loan portfolio of Albania's commercial banks continue to fall in April
• Albania’s trade gap widens as exports fall
• Growth of Albania’s gross external debt slows to 6.9% y/y at end Q1

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