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Shkruar nga Pamfleti
Today, business associations have expressed concern about the effect that the devaluation of the euro is having on their activity, but not only.
In a joint press statement, they warn that this record devaluation of the euro is bringing serious consequences to the country's economy, and manufacturing and exporting businesses are at the limits of their existence.
"Already the extremely serious consequences of the lek's appreciation up to the '1 to 1' exchange rate are showing the first effects: in the economy as a whole (double-digit decrease in exports for several months in a row), they are showing direct effects in the pockets of citizens whose income comes from remittances, or quite a few of those who have home loans in euros, while bankruptcy is guaranteed specifically for exporting businesses. Throughout this period, businesses (especially exporting ones), have followed the institutional path to address risks and cooperate with institutional actors for solutions, but it is a fact that there has been no progress (while the regression of exporting companies to bankruptcy is a reality that aggravates every day). Unfortunately,said the statement.
The association raises the concern that the Bank of Albania is not acting to stabilize the foreign exchange market, refusing to be transparent about what is happening with the exchange.
"These technical staffs who advise the government, it is a fact that they effectively advise it badly, due to their ignorance of the real economy, but also their political irresponsibility. On the other hand, the Bank of Albania, not only has not shown any role to stabilize the foreign exchange market, but has refused to be transparent about the fulfillment of legal duties related to the performance of the foreign exchange, to explain with concrete and understandable statistics and data that: what happened that the local currency is overvalued in Albania, unlike anywhere else in Europe? What projection and perspective does this issue have?
There is no official explanation or reasoning from the Bank of Albania, as to why the appreciation of the lek is a logical consequence of the economic development of the country - which means that the exporting businesses, but also all businesses and even citizens, effectively exercise economic and financial activity in an uncertain environment!"- it is further said.
After several meetings with the institutions, they publicly declared that the exporting businesses, as well as the manufacturing ones, are at the limits of their economic and financial resistance.
"Damage has already been produced, the consequences of which will be felt in the following months, but if the solution to the situation is not done immediately, the long-term economic-social consequences will be very serious and the state budget and the economy as a whole will be faced with much higher budgets than what the immediate solution requires", concludes the statement .
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