The COVID-19 pandemic continues to bring negative consequences to the Albanian economy.
In the first months of the year, soaring rates of infections and fatalities led to a rise of businesses going into hibernation, respectively 26%.
In the capital, 934 subjects went into a dormant state, a 12% increase when compared to the same time period from last year.
In Berat, 140% of businesses faced closure in the first two months of the year, in contrast to January-February 2020. Berat appears to be the city that is suffering the most from the repercussions of the pandemic in this new year.
In Fier, 58% of businesses met a similar fate, in Vlora over 52%. Shkodra, the country’s fifth-most populous city, logged the highest rate of business closures in 2020, a trend that is persisting this year as well.
Many businesses in Saranda and Durres have also declared bankruptcy, respectively 45.2% and 34%.
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