While the euro has registered in Albania the new historical low of the last ten years, the country is wondering about the alleged illegal activities - such as money laundering - behind such depreciation and whether the Albanian government should intervene to support those who export eurozone, which are suffering considerable losses.
- Albania, euro in peak: the minimum value of the last 10 years has been recorded
- History of the Albanian currency, the Lek
"It is a worrying fact because it touches on a key sector of the economy. Politicians and bank representatives must take incentives so that the export burden on companies is eased when the higher costs force them to reduce investments, to ensure that they do not lose their markets and that this negatively affects them. on the economy of the whole country " - declared the economics expert Arben Malaj.
Furthermore, Albanian exporters estimate that the country's economy will fall by at least 14 billion leke (108 million) if the euro continues to stand on these values in the country.
The central bank and the government, for this reason, argue that the strengthening of the lek is the result of a national economy that is recovering. On the other hand, opposition parties and some economic experts doubt this and suspect that the main reason behind this situation is represented by the inflows of euros coming from cultivation and drug trafficking, which are most likely recycled in the building sector.
Specifically, the Democratic Party links this phenomenon to the illegal influx of euros arising from the peak of cannabis cultivation in 2016 and trafficking in other drugs. At the end of April this year, a record of 613 kilos of Colombian cocaine - with an estimated value of 180 million - were seized in the port of Durres, hidden in a container of bananas.
The experts also believe that the euro could further weaken in the coming months, when Albania will start towards the summer season, when Albanian immigrants will return home to spend their holidays, further increasing the supply of euros in the market local and leading to a new strengthening of the leke.
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