Albania plans amnesty to tackle grey economy

By bne IntelliNews March 3, 2020

The Albanian government intends to offer an amnesty in the upcoming months for businesses which have worked illegally as an instrument for the formalisation of the grey economy, Finance and Economy Minister Anila Denaj said on March 2.

"The initiative will be implemented under the international standards and will include foreign experts. It aims to improve another aspect towards the formalisation of the economy, which has already begun with the process of introduction of fiscal rules," Denaj said.

"For the Albanian government, formalising the economy is a priority for its development, as well as strengthening all measures to improve equity between businesses," Denaj said.

According to business association Konfindustria Albania’s informal economy equals 50% of Albania’s GDP.

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