Depreciation of the European currency has its positive side, finance minister says

27 Prill 2023, 19:27Economy TEMA

The depreciation of the European currency against the Albanian currency, Lek, has become a concern for Albanian exports, who’ve made fewer profits as a result of this.

However, the finance minister says that this constant depreciation in the recent months also has its positive side.

“There are a number of other companies operating in Albania and who generate their incomes in lek and the cost of their financing has decreased,” minister Delina Ibrahimaj said.

Meanwhile, the minister denied all rumours that the Europe is being depreciated as a result of the informal money being spent during the election campaign.

This Thursday, 1 euro was bought 110.6 leks and was sold 111.4 leks. The country’s central bank says the depreciation of the European currency has had a positive effect in reducing the burden of foreign debt.

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