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Albanian Times, Vol. I, No. 11, December 24, 1995From: Albanian Times <AlbaTimes@aol.com>The Albanian Times (by AlbAmerica TRade & Consulting International) DirectoryIn this issue:CONTENTS[1] Heavy Rain Causes Floods In Albania, 2,000 Evacuated[2] New Budget Aims at Infrastructure, Social Needs a Priority[3] Albania and Austria Sign Tourism Agreement[4] Albanian Government Struggling to Keep Bread Price in Control[5] Albania, E-U Sign Loan Disbursement Agreement[6] Albanian Official Seeks Ways to Finance Housing Projects[7] Local Civil Aviation-How Distant a Dream?[8] Athens Stock Market Stronger at Papandreou's Health Improvement News[1] Heavy Rain Causes Floods In Albania, 2,000 EvacuatedHeavy rain has caused widespread flooding in Albania's northwestern districts of Shkodra, Kruja and Lezha, Albanian media reported on December 27. In Shkodra district, about 5,000 hectares of arable land and hundreds of houses have been destroyed. About 2,000 people from the most heavily affected areas have been evacuated. The road linking Shkodra and Lezha was blocked on Wednesday. Electricity supply has been generally normal, according to reports. Heavy rain has inflated water collectors at two major hydropower stations on the Drin river, pushing waters at highest levels, a government statement said. A special team at the Ministry of Defense is monitoring the situation. Thousands of troops have been mobilized in an effort to stop further damage. (AT, December 27)
[2] New Budget Aims at Infrastructure, Social Needs a PriorityAlbanian government said its FY 1996 budget encourages production but has a pronounced social character. A new budget bill to be presented to the parliament puts the spending quota for health care projects at 700 million leks (about $7 million) and spending in education will remain strong, government sources said on December 22. Employee salaries would increase by 30 percent. In its FY 1996, the government plans no more subsidies for the Telecom and Energy Enterprises, which will operate on a self-suport basis. A partial privatization scheme for both state run companies is being considered. Total spending for 1996 amounts to 99,317 billion (about $1 billion) with projected revenues at 61,5 billion leks (about $620 million). Investments for reconstruction amount to 26,547 billion leks ($270 million) with 17,797 billion leks ($178 million) from outside sources, mainly from World Bank and E-U programs. Spending from internal sources is based on the 1995-1997 public investment program of the government. The new budget aims at spurring production through the development of infrastructure. Agriculture, construction, education and health care remain priorities, government sources said. The government plans heavy investments in road building and other transportation projects. The bill is being debated in parliamentary commissions. (AT, December 27)
[3] Albania and Austria Sign Tourism AgreementAlbania and Austria finalized plans to develop a tourist area on the Albanian southwestern shore. The project involving infrastructure needs for the Qeparo-Llogara stretch will be completed in June-July 1996. The agreement was signed on December 22 in Tirana. Austria's Rogner company has built a four star hotel in central Tirana, a major foreign project in Albania supported by the European Bank For Reconstruction and Development.
[4] Albania, E-U Sign Loan Disbursement AgreementAlbania and the European Union signed an infrastructure development agreement worth ECU 25 million, Albanian radio reported on December 22. The agreement will be suported by the Phare program and the European Investment Bank. About ECU 16 million will be used for the reconstruction of the roads Durres-Elbasan and Pogradec-Kapshtice and the Durres ferry terminal. The rest of the loan will benefit various infrastructure projects in the cities of Durres, Fier, Kavaja and Lushnja. The EIB plays a major role in the financing of transport schemes in Central and Eastern Europe, helping the countries in the region to develop internal communications and linking them up with the trans-European networks (TENs). Total EIB-financing for TENs in Central and Eastern Europe now reaches ECU 1.15 billion. Since it started lending in Central and Eastern Europe, the EIB has provided Albania $34 million.
[5] Albanian Government Struggling to Keep Bread Price in ControlFaced with rising grain prices on the international market, the Albanian government is taking urgent steps to keep politically sensitive bread prices at acceptable levels, officials said. The government has lowered tariffs on water, electricity and fuel used for bread making. At government's intervention, Albania received a shipment of 10,000 tons of grain from Rumania and expects another 20,000 tons at $118 per ton. The U-S has recently agreed to supply Albania 25,000 tons of grain through its Food for progress program. The government is also negotiating with other countries to receive other shipments of grain at relatively low prices, officials at the Ministry of Agriculture and Food said. (AT, December 27)
[6] Albanian Official Seeks Ways to Finance Housing ProjectsVice Prime Minister Dashamir Shehi has conferred with U-S officals and private businesses on financing housing programs in Albania. Mr. Shehi, who is also minister of Construction and Tourism concluded on December 19 a visit in the U-S where he talked with U-S Department of Housing and Development officials on the ways to finance housing programs in Albania. The talks centered on the new housing law recently approved by the Albanian parliament. (AT, December 22)
[7] Local Civil Aviation-How Distant a Dream?Starting national civil air transportation may help tourism in Albania, officials say. Albania has 8 small airfields, all in urgent need of reconstruction, according to officials at the Ministry of Industry and Trade. Local flights are impossible without major repairs of runways and use of Albania's existing airplanes is economically unproductive, they say. Complicating matters further are the illegal construction activities in and around the airfields. The government is negotiating with foreign companies and plans to organize a tender where interested firms would bid for rebuilding the runways. Construction activity in some of the sites is expected to begin by June 1996 so that the airfields would become operational by 1998. Flights will mainly be run by private companies and will use small airplanes, officals say. In the recent years Albania has been rapidly developping its international air transportation and the government has agreed with Germany's Siemens and other companies to remodel the nation's only international airport, northwest of capital Tirana. (AT, December 27)
[8] Athens Stock Market Stronger at Papandreou's Health Improvement NewsTrading on the Athens Stock Exchange was buoyant on December 27, after news that the condition of Prime Minister Andreas Papandreou, seriously ill for 37 days, had improved. The ASE general share price index closed at 899.80, against last Friday's closing at 898.47. Some 9.2 billion drachmas' worth of shares were traded, reflecting what brokers said was year-end block trading rather than a rallying market. (Reuter, December 27) |
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