Exporters urge the central bank and govt to stop the depreciation of the euro

28 Prill 2023, 14:52Economy TEMA

The depreciation of the European currency is something which cannot be ignored. This is the concern raised by the Exporters Association in a public letter addressed to the governor of the Bank of Albania, Gent Sejko and Economy Minister, Delina Brahimaj.

According to exporters, the depreciation of the European currency has damaged and continues to damage a considerable part of businesses and this also has a negative impact on the economy.

While urging the central bank and the government to react, the association says that "the reduction in the cost of import, which leads to a reduction of exports, is not an indicator of a strong economy". According to exporters, there's a risk that the Albanian economy could return to its former state of 1992 when the country only imported goods.

The exporters' association says the depreciation of the European currency could lead to job losses and also to a fall in budget revenues. They call on the Bank of Albania and the Ministry of Finance to address the situation and come up with a solution in order to normalize the currency market.

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