PM: Purchasing power and “Made in Albania” exports increased in 2012

Prime Minister Sali Berisha focused during the first meeting of the government for 2013 on Albanian economy growth and the government short-term measures to urge production, investments and employment.While highlighting January 4 a marked day for the business as the law about VAT...

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PM: Purchasing power and “Made in Albania” exports increased in 2012



Balkans.com Business News Correspondent - 09.01.2013

Prime Minister Sali Berisha focused during the first meeting of the government for 2013 on Albanian economy growth and the government short-term measures to urge production, investments and employment.

While highlighting January 4 a marked day for the business as the law about VAT exempt on production machinery of all business levels enters in force, the prime minister said that the current year begins with true optimism. To back up his statement, the prime minister brought forth two indicators according to which: the purchasing power in 10-month period of 2012 has been increased by 101 billion lekë as compared to the same period in 2011 and “Made in Albania” exports have been increased by18%, i.e. from 97 billion into 118.9 billion.

“The data the business has provided reject in an exemplary way claims of a decline in the purchasing power”.

While highlighting the law of VAT cut on all production machinery for small and medium-sized business enters in force, the prime minister announced that the next decision will be the cutting of VAT on purchase of hired production machinery by the big business.

“Naturally, the VAT cut on machinery will cause at least 120 million Euros loss in the state budget, but it will get converted into tens of jobs and thousands of business units countrywide”.

Speaking on these recent developments, PM Berisha said:

“We begin the new year with real optimism. I would like to inform that in the first 10-month period of last year – the last trimester indicators are actually being worked out- has been recorded an increase of the total turnover of the country’s entrepreneurship. In more concrete terms, from 1 trillion and 346 billion lekë it was in the first 10-th month period of 2011 during the same period in 2012 it got increased into1 trillion and 447 billion, i.e. it’s got increased with101 billion lekë. All those who think that the purchasing power has declined have to confront their claims to the indicators that the business itself has declared and that deny all their claims in an exemplary way. Naturally, this does not rule out any fall in certain businesses because all business history goes like this. However, in total and in country scale there is a solid increase of the country’s turnover. This sustainable growth categorically rejects the claim of a decline in the purchasing power. There can be no turnover without purchasing power. This is a fundamental condition.

Secondly, “Made in Albania” exports have got increased from 97 billion into 118.9 billion, i.e. they have got increased by 18%. There is a fall in exports from re-export. There are two reasons about this. The first reason is certainly the crisis in the neighbouring countries and the second reason which in fact is positive is the change of these businesses into real Albanian exporting businesses, i.e. not in function of any foreign company.

The law about VAT on production machinery of all business levels enters in force today and it certainly marks the most major act in our fiscal revolution following the introduction of the flat tax. VAT will be zero on all production machinery of the small and medium-sized businesses, while on the big business is used a pre-announced regime about which they have fully agreed. There is a difference here, too. All the businesses that have taken in use machinery from abroad, but that would have preferred to have bought them, benefit from such a measure. By the next government decision, which has been defined in the law, they can purchase machinery under VAT exempt. Through this step and the follow-up steps actually under consideration, the government gives a major impetus to the increase of local production and employment of the Albanian citizens.  

Together with the business representatives we are considering all facilitation we can make for the undertaking. We adhere to the principle that the safest way to protect ourselves from this crisis, which will be long, is to stimulate, to favour, facilitate business in Albania; to encourage local investments and FDI. And this is happening. Naturally, the VAT exempt on machinery will cause at least 120 million Euros loss in the state budget, but it will get converted into tens of jobs and thousands of business units countrywide”.

Source: Republic of Albania Council Of Ministers


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