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Albanian exporters have issued a first balance of losses from the devaluation of the Euro in the exchange rate with the Lek.
In the study on "On the Need to Adapt the Monetary Policy Structure of the Bank of Albania" drawn up by members of the Unified Office of Export Businesses (ZUBE), it is estimated that the losses from the devaluation of the exporter's euro for January-June 2023 reached 34, 8 million euros.
"This trend shows the continuous losses of Albanian exporters caused by changes in the exchange rate, affecting other negative socio-economic consequences, starting from their lower liquidity to supply, reduction in the number of employees, this translated into other chain effects, such as the reduction of consumption, the reduction of investments, etc.", it is emphasized in the study.
Among the sectors with the highest losses from the exchange rate are the clothing and footwear sector with a workforce, according to the study, of 200,000 employees.
From the analysis carried out by ZUBE, it is estimated that due to the difficulties created by the exchange rate in order to maintain the stability of the activity, the fashion enterprises may reduce the number of employees.
"If in the analysis we will take the minimum wage as a reference (characterizing this sector), concrete estimates can also be made of the number of employees that these businesses have to cut, just because of the difficulties created by the exchange rate in order to keep their stable macroeconomic indicators", the study quotes.
In support of exporters, the study recommends taking a series of measures by the Bank of Albania and other state institutions, from schemes in support of exporters to the interventions of BSH that can implement an appropriate exchange rate policy to maintain a competitive value of the currency.
On Friday, the exporters' associations sent a letter to Prime Minister Edi Rama, where they requested measures to be taken to mitigate the serious consequences that the manufacturing companies for export are experiencing from the high appreciation of the national currency./Monitor
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