TIRANA, May 15/ATA/ – Foreign Direct Investment (FDI) flows expanded by 19.4% in the fourth quarter of last year, the Bank of Albania BoA reported.
According to BoA, the main investments were concentrated in the key sectors of the country’s economy, making significant contribution to the growth country’s economic, employment, exports and manufacturing capacities growth.
Thus, the incoming investment flows were driven by “energy” and “hydrocarbon” sector, accounting for about 7.8% of Gross Domestic Product (GDP).
In the first quarter last year, the foreign direct investment net flows financed around 66.6% of the current account deficit.
“At the end of December 2018, the foreign exchange reserves was about EUR 3.4 billion, which is enough to cover the cost of 7 months of import of goods and services or 156% of short-term external debt,” BoA stated.//a.i/
