Economy experts Eduard Gjokutaj and Lorenc Gordani warned that oil prices are expected to rise considerably.
During their interview for Euronews Albania, the experts spoke about the consequences of the war in Ukraine on the economy and the measures we need to take in order to prevent a possible crisis.
According to Gjokutaj, consumer prices for electricity are currently frozen whereas fiscal policymakers will need to consider reducing taxes for big businesses. Meanwhile, if the war continues for a long time, panic in the country will ensue, said the expert.
When it comes to the price of oil, Lorenc Gordani, said that it is expected to rise up to €1.81 euros a liter.
“The impact will be extraordinary. In fact, we have already started looking at the first projections in our country, which point to the price going up to as much as €1.81 euros a liter,” – said the expert.
In addition, he explained that 50% of our oil in Albania comes from Russia. Meanwhile, when it comes to electricity, Gordani said that we will most probably rent a mobile TEC plant in Vlore, in order to be able to handle demand during the summer.
YOU MIGHT ALSO LIKE
- Oil prices go up by €0.07 per liter in only 1.5 months
- Oil prices in Albania are now the same as in Switzerland
- Government vows to pay oil workers a minimum wage for 3 years
