Albania Monthly Report - October, 2016

November 11, 2016

1. Executive Summary

This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of October 12, 2016 – November 12, 2016.

European Commission recommends conditional start of EU talks with Albania
Albania significantly improves its position on Doing Business 2017 rating
IMF keeps 2016 GDP projection for Albania unchanged at 3.4%
IMF gives nod to Albania for wage hikes
Albania’s Balfin sells Skopje City Mall in Macedonia for €92mn

Key points:
• Albania’s inflation slows down to 1.5% in October
• 9-mo trade gap widens 19% y/y
• Albania keeps posting budget surplus through September
• Lending in Albania continues growing
• Albania's NPL ratio reaches 21.3% at end-Q3

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