TIRANA, March 17 /ATA/ – The Albanian Development Bank will play a crucial role in funding strategic sectors and supporting the country’s economic development, the Minister of State for Enterprise and Business Climate Delina Ibrahimaj told lawmakers on Monday, defending a draft law on creation of the new institution.
Taking the floor at parliament’s plenary session, Ibrahimaj noted that the Albanian economy is constantly expanding with higher revenue, stronger exports and lower public debt.
She underlined that Albania’s gross domestic production (GDP) grew to a total value of over 25 billion euros in 2024.
“Income per capita has tripled to 10 334 euros from 3 324 euros previously, whereas Albania’s GDP grew 3.4%, pursuing a positive trend. Labor market has seen significant improvement in terms of unemployment decline. Wages have increased, positively influencing the economy, with the minimum wage surging to 400 euros from 157 euros. Public debt has fallen to 44.7% from 70.4%, saving around 300 million euros annually. Albania’s exports have tripled to 9 billion euros in 2024, while public investments range from 5.1 to 7.8% of GDP. The total of bank deposits is estimated at 1.36 trillion lek,” Ibrahimaj said.
The State Minister underlined that creating the Albanian Development Bank will help the country in absorbing and channeling the European Union funds into strategic projects with long-term growth prospect.
Ibrahimaj stated that absorbing EU funds is crucial as the country advances on the path towards integration into the bloc.
She also noted that the bank will support the country’s economic development by easing and streamlining access to access for underfinanced sectors, infrastructure, exports and strategic projects.
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