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Ekonomia

The euro drops below 100 lek, the well-known expert "unravels" the causes of the devaluation of the European currency

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The economic expert Pano Soko has stated that the main reason why the euro has dropped below 100 lek are the unknown flows of money that enter at a certain moment and destroy the rules of the market economy.

According to Sokos, tourist flows are also a factor, but not as important as the aforementioned flows.

"Incoming flows are large, resources will have to be found. Tourism, increased amounts of tourists are a fact. But such large movements occurring in non-periodic cycles show that it is not just tourism. That tourism is periodic.


Even the effects that the influx of tourists will have on the exchange rate should be extended over time, I expect the euro to go up to 95 lek in the summer. If they get 2 million visitors a month, with these pressures from other wings, this will give them the final blow.

If it happened because of this, I expect it to happen in July, we would have it gradually, we catch it today on a Monday, after the Eid holiday, part of the administration was on vacation. What has happened systematically in the last 10 years. Unknown, unidentified cash flows enter at a certain moment and break the rules of the market economy. There is no logic to what happens. There is only one reason, certain people brought money and brought it to the market on Monday.

This is the history of Albania for the last 10 years, it started in 2016 when the plan that the deputy prime minister allegedly showed with a hidden camera, 'sell drugs and put them into the economy, without giving a damn what happens. That euro kills 10,000 jobs a day," he said in the studio of the show "MCN Economy".

According to Sokos, the Bank of Albania cannot fix this market distortion.

"There is only one instrument, to buy euros from the market, to throw lek into the market. Based on the law, the Bank of Albania cannot enter the market indefinitely. It contains figures that shake the foundations of the Bank of Albania. If you want to correct 2.2 billion euros, there is no Bank of Albania, they cannot correct a market distortion. This money is not being introduced as a result of the correct mathematical equations that will eventually equalize. It is additional money that is coming after the equations have been equalized", declared Soko.

 

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