Moody’s Report Confirms Economic Crisis in Albania
Albanian Daily News
Published December 10, 2016

Democratic Party
sees nothing new in Moody’s report, the company which assesses the countries'
financial capacity. According to the Democrat MP, Jorida Tabaku this report has
more praises for the period 2004 -2013 than for the left wing governance.


“Factors that keep
alive the economy and consumption are closely related to the foreign investment
initiated by the previous government, TAP pipe-line and Devoll Hydro-Power
Plant. These locomotives of the Albanian economy avoided an economic recession during
this, according to Moody's analysis,” declared Tabaku.


She stressed that
this report there is nothing to be proud of and much to worry about, especially
for the country's debt level and the lack of competitiveness of it.


“The report says
that Albania
has a high level of public debt, which in 2015 reached the highest peak in
approximately 73 percent of GDP. Moody's confirms that Albania has great needs
for new loans and notes that government funding depends on money borrowed from
the domestic banking sector, which is exacerbated by more bad loans, which last
month increased by 18 billion ALL,” underlined the Democrat MP.





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