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Foreign investments in Albania drops by 11.6 pct in H1 2016

Xinhua, September 14, 2016 Adjust font size:

Foreign direct investments (FDI) in Albania marked a decline of 11.6 percent in the first half of 2016 compared with the same period of 2015, according to statistics from Bank of Albania on Wednesday.

Referring to the data, the foreign direct investments to Albania amounted to 418 million euros (about 468 million U.S. dollars) in the first half of the year.

According to Albanian central bank experts, the decline was due to the negative performance of the first quarter, when FDI fell by 40 percent to the level of 157 million euros while in the second quarter, investments improved, increasing to 261 million euros.

The Bank of Albania informed that inflows in the form of direct investments were mainly concentrated in the energy sector (about 60 percent), oil (15 percent), financial inter-mediation (10 percent), construction (4 percent) and the telecommunications sector (2 percent).

While the largest increase was registered in the flow of investments in the energy sector, the bank said.

Local media here cited bank experts saying improvement in the FDI indicators in the second quarter was mainly due to works at the Devoll hydropower plant, one of the biggest energy projects in the country, and the Trans Adriatic Pipeline project, which began placing pipes here in the first half of the year. (1 euro = 1.12 U.S. dollars) Endit