{"id":24075,"date":"2021-11-01T21:47:54","date_gmt":"2021-11-01T20:47:54","guid":{"rendered":"http:\/\/euronews.al\/en\/?p=24075"},"modified":"2021-11-01T22:33:52","modified_gmt":"2021-11-01T21:33:52","slug":"price-crisis-could-give-rise-to-the-bleakest-economic-scenario-since-the-80s-says-expert","status":"publish","type":"post","link":"https:\/\/euronews.al\/en\/price-crisis-could-give-rise-to-the-bleakest-economic-scenario-since-the-80s-says-expert\/","title":{"rendered":"Price crisis may give rise to bleakest economic scenario since the 80s, warns expert \u00a0"},"content":{"rendered":"<p>The 2022 State Budget included some very optimistic forecasts but the Government should have acted more responsibly. Especially at a time when we are still in the midst of a very abnormal year and when the pandemic is still around, said President of the European University of Tirana and economist, Selami Xhepa on Euronews Albania\u2019s political panel show \u2018Now\u2019 \u2013 with Erla Mehilli.<\/p>\n<p>In tonight\u2019s show, focused on the 2022 State Budget, the renowned economist argued that \u201cfaced with the current uncertainties, our government should have maintained a slower pace, while increasing funding for welfare and financial assistance, especially at a time when an oncoming crisis of price hikes is coming towards us, headfirst\u201d.<\/p>\n<p>According to Xhepa, if this crisis were to also bring up our inflation rate, then this could bring about a rise in interest rates and subsequently trigger an economic catastrophe.<\/p>\n<p>\u201c2022 can\u2019t possibly be considered a normal year, especially with the amount of risks involved, on a global scale. The pandemic is still uncertain and causing major instability in global markets, which could have very serious consequences.<\/p>\n<p>If the price crisis does end up unfolding like many academics or even the Central Banks suspect, then it would be translated into a higher inflation rate which would force our central banks to increase their interest rates, which would subsequently lead to a catastrophe and the most daunting economic scenario since the 80s,\u201d \u2013 said Xhepa.<\/p>\n<p><strong>YOU MIGHT ALSO LIKE<\/strong><\/p>\n<ul>\n<li class=\"title-post\"><strong><a href=\"https:\/\/euronews.al\/en\/programs\/now\/2021\/10\/27\/berisha-wants-to-take-over-the-dp-to-protect-himself-declares-roland-bejko\/\">Berisha wants to take over the DP to protect himself, declares Roland Bejko<\/a><\/strong><\/li>\n<li class=\"title-post\"><strong><a href=\"https:\/\/euronews.al\/en\/programs\/now\/2021\/10\/20\/kodheli-on-vetting-for-politicians-it-should-apply-to-all-political-actors-in-the-last-30-years\/\">Kodheli on politician vetting: It should apply to all political actors in the past 30 years<\/a><\/strong><\/li>\n<li class=\"title-post\"><strong><a href=\"https:\/\/euronews.al\/en\/programs\/now\/2021\/10\/20\/bid-to-vet-all-politicians-salianji-to-address-proposals-of-the-venice-commission\/\">Bid to vet all politicians, Salianji: To address proposals of the Venice Commission<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The 2022 State Budget included some very optimistic forecasts but the Government should have acted more responsibly. Especially at a time when we are still in the midst of a very abnormal year and when the pandemic is still around, said President of the European University of Tirana and economist, Selami Xhepa on Euronews Albania\u2019s [&hellip;]<\/p>\n","protected":false},"author":23,"featured_media":24076,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[153],"tags":[150,151],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Price crisis may give rise to bleakest economic scenario since the 80s, warns expert \u00a0 - Euronews Albania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/euronews.al\/en\/price-crisis-could-give-rise-to-the-bleakest-economic-scenario-since-the-80s-says-expert\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price crisis may give rise to bleakest economic scenario since the 80s, warns expert \u00a0 - Euronews Albania\" \/>\n<meta property=\"og:description\" content=\"The 2022 State Budget included some very optimistic forecasts but the Government should have acted more responsibly. 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