The effects of Greek crisis in Albania are under control

According to the IMF, the Albanian economy is immune to developments in Greece, with particular emphasis on the crisis in the country. The International Monetary Fund, which estimates low risk for the Albanian economy.

In a joint press conference with the Minister of Finance, Shkelqim Cani, Minister of Economy, Arben Ahmetaj and Governor of the Bank, Gent Sejko, the head of the IMF, Nadeem Ilahi said that "The Fund expects no serious risk from the Greek crisis".

"The Albanian banking system has sufficient liquidity and we do not expect any effect from the Greek crisis that may require the intervention of the Albanian government. It must be said that Greek banks over the years have lost their great influence in Albania, "said Ilahi.

"The volume of Albanian exports to Greece are scarce, and it is not expected to have an impact on Albania, or has a very low risk," said the head of the IMF.

The IMF says that the government has met its targets under the program, except revenues, for the period from January to May this year, and the main cause has been oil price reduction.

Cani ruled out the effects of the Greek crisis. "The effects of the Greek situation in the Albanian economy are under control. Firstly, because what is happening in Greece, it is not new. The Albanian economy has been adapting to the situation for 5 years now", he said.

One of the sectors that could be most affected by a possible exit of Greece from the euro area is exports, but even here the impact is limited.

"We assume that will demand for Albanian goods will decrease, however, it is not about a big impact because we only export towards Greece 5.3 percent", said Minister of Finance.

Regarding the banking system, Cani reiterated the views expressed earlier by the specialists and Governor Sejko. 

"Most important is to emphasize something about Albanian banks with Greek capital. They are legally Albanian banks and are completely separate from those in Greece" Cani said. /albeu.com/