{"id":33524,"date":"2022-03-28T12:09:31","date_gmt":"2022-03-28T10:09:31","guid":{"rendered":"https:\/\/euronews.al\/en\/?p=33524"},"modified":"2022-03-28T12:32:32","modified_gmt":"2022-03-28T10:32:32","slug":"over-4000-businesses-faced-closure-over-unbearable-high-prices","status":"publish","type":"post","link":"https:\/\/euronews.al\/en\/over-4000-businesses-faced-closure-over-unbearable-high-prices\/","title":{"rendered":"Over 4,000 businesses faced closure over unbearable high prices"},"content":{"rendered":"<p>Albanian businesses are experiencing a major crisis due to increased prices.<\/p>\n<p>Euronews Albania made a ground observation on some of the main neighborhoods in the capital to see how the crisis is affecting shopowners.<\/p>\n<p>Closed shutters and signs like \u2018store is on sale\u2019 were not uncommon in any of these areas.<\/p>\n<p>But in order to have an even more precise idea about the impact of the crisis, Euronews Albania sent an inquiry to the National Center of Business (QKB), which provided us with accurate data.<\/p>\n<p>According to QKB, inflated prices started affecting Albanian businesses last June.<\/p>\n<p>As per this data, from last June to December the toll of businesses that were forced to face closure reached 3,228.<\/p>\n<p>In addition to that, from this January another 924 businesses closed down, that on average is 15 businesses per day.<\/p>\n<p>According to the head of the association of small businesses, things started to decline during the pandemic, adding that the aid provided by the government was insufficient.<\/p>\n<p>\u201cOther countries like Kosovo accorded 1.9% of their GDP in aid for small businesses. Let alone Serbia who gave 4.6% of its GDP, in addition to cutting down local tariffs\u201d, said Albert Nasto.<\/p>\n<p>Another factor he pointed out is informality, citing data from INSTAT, the public statistics institute, 45% of Albanian businesses were part of the grey economy.<\/p>\n<p>According to Nasto, the war in Ukraine dealt the last blow to the already aching small enterprises.<\/p>\n<p>The head of the small businesses association proposed several measures to counter the crisis.<\/p>\n<p>Nasto said that it should all start by tackling corruption and reducing local taxes, as well as having stable financial laws.<\/p>\n<p>\u201cIn Albanian, the fiscal system has changed around 80 times in the last three decades\u201d, Nasto said.<\/p>\n<p><strong>YOU MIGHT ALSO LIKE<\/strong><\/p>\n<ul>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2022\/03\/27\/transparency-board-sets-fixed-fuel-price-for-next-5-days\/\">Transparency Board sets fixed fuel prices for next 5 days<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2022\/03\/21\/students-complain-over-unaffordable-rent-prices\/\">Students complain over \u2018unaffordable\u2019 rent prices<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2022\/03\/17\/parliament-refuses-the-oppositions-plea-to-discuss-rising-prices-in-todays-plenum\/\">Parliament refuses the opposition\u2019s plea to discuss rising prices in today\u2019s plenum<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Albanian businesses are experiencing a major crisis due to increased prices. Euronews Albania made a ground observation on some of the main neighborhoods in the capital to see how the crisis is affecting shopowners. Closed shutters and signs like \u2018store is on sale\u2019 were not uncommon in any of these areas. But in order to [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":33525,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[153],"tags":[270,1013,815,1012,151],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Over 4,000 businesses faced closure over unbearable high prices - 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\/over-4000-businesses-faced-closure-over-unbearable-high-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Over 4,000 businesses faced closure over unbearable high prices - Euronews Albania\" \/>\n<meta property=\"og:description\" content=\"Albanian businesses are experiencing a major crisis due to increased prices. Euronews Albania made a ground observation on some of the main neighborhoods in the capital to see how the crisis is affecting shopowners. Closed shutters and signs like \u2018store is on sale\u2019 were not uncommon in any of these areas. 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