Euro at Historic Low, Tabaku Raises Alarm: Government’s Economic Model Is Hurting Families and Businesses

Democratic Party MP Jorida Tabaku reacted to the fall in the euro’s exchange rate against the lek, describing the development as an alarm signal for the country’s economy.

In a social media post, she stressed that the euro has fallen to its historic low. According to Tabaku, however, this situation does not indicate that Albania’s economy has become stronger.

The MP stated that the exchange rate of around 93 lek per euro, recorded in recent days, is not the result of more sophisticated production, the expansion of the productive economy, increased productivity or higher exports. For this reason, she said, the development is not supported by any logical economic explanation.

Analysing which sectors benefit and which are harmed, Tabaku said the losses affect businesses that invoice in euros, as well as tourism enterprises that receive payments in euros while paying their expenses in lek.

According to her, agriculture, Albanian exports, the garment and footwear sector, production and Albanian families are also being harmed by this situation.

Tabaku stressed that many families in Albania rely on income sent by relatives who have left the country. At the current exchange rate, the same amount sent in euros converts into fewer lek, reducing the income received by these families.

She reiterated that the depreciation of the euro is bringing negative consequences for the Albanian economy, domestic production and agriculture.

The Democratic MP described the situation as an alarm bell, stating that nearly one-third of the euro’s value has been lost without a justification stemming from real economic factors.

Faced with this situation, Tabaku called for immediate intervention and the drafting of a strategy that would help families, businesses, production and Albanian agriculture emerge from the crisis they currently face.

According to her, the problem is directly linked to the system and the economic model built by the Socialist majority, which she described as a failure.