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Albania takes measures to boost agriculture sector

Xinhua, March 9, 2015 Adjust font size:

The Albanian Ministry of Agriculture Sunday announced new measures and initiatives to boost agricultural production, according to Albanian Daily News.

Several supporting schemes and policies regarding subventions for farmers, including the establishment of warehouses for agricultural and livestock products, have already been implemented throughout Albania.

These supporting schemes aim to boost employment in this sector as well as exports of Albanian products.

Albania's agriculture and hunting sector recorded an annual growth of 1.2 percent for the third quarter of 2014, said a report issued by the Bank of Albania.

Agriculture experts said that the growth is lower than the same period of previous years due to worse climate conditions.

In another development, Albania's long-term deposits of more than two years have increased since the beginning of 2015 compared with December 2014, according to the bank.

After Bank of Albania decreased the interest of deposits to 2 percent, the lowest record registered by the bank, many short-term deposits were transformed into long-term deposits. Endi