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Albania worries about impacts from population emigration over business

Xinhua, January 16, 2016 Adjust font size:

More than 78 percent of Albanian businesses saw massive population emigration as the main risk for the country's economy, local media reported on Saturday.

The massive exodus over the past year has alarmed many Albanian businesses, the Albanian Daily News newspaper cited The Global Risk Report for 2016 published by the World Economic Forum as saying.

In 2015, dozens of thousands of Albanians left their homeland to seek asylum in Western countries, triggering fear over the negative impact of dwindling work force and lower purchase power on the national economy.

The report, which made a direct poll on enterprises by the Switzerland-headquartered institution, noted that 65 percent of the respondents said they were concerned about a possible budget crisis that could hit the economy and cause huge consequences, such as a strong tax increase.

It also listed strong fluctuations in energy prices, unemployment and failure of financial institutions or mechanisms as the other major concerns for Albanian businesses.

The Global Risk Report for 2016 is the main document for the world risk map. Unemployment has been seen as the biggest business risk in the world in 2016, followed by energy prices and fiscal crises. Endi