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Politike

The collapse of the fashion business, Meta reacts: The devaluation of the euro has turned into dangerous gangrene for the Albanian economy

The collapse of the fashion business, Meta reacts: The devaluation of the euro

The Chairman of the Freedom Party, Ilir Meta, in a post on social networks, stated that the deliberate devaluation of the euro has turned into a dangerous gangrene for the Albanian economy and fashion business. 

Meta's post:

The deliberate devaluation of the Euro has turned into a dangerous gangrene for the Albanian economy and especially for exports and fashion business. The latest data from these sectors continues to be alarming.

Only for a period of one year from January 2023 to January 2024, in Albania, exports of textiles and shoes fell by 18.5%.

More dramatic is the drop of "Made in Albania" shoes by 30%, compared to a year ago, while textile exports fell by 7.8%.

From 108 million Euros in January 2023, exports in 2024 shrank to 88 million Euros.

Only for a period of one month, January 2024-February 2024, 3,000 jobs were reported lost in the fashion business, while according to representatives of this sector, if this difficult situation continues, the projections speak of 25,000 jobs lost until the end of June 2024.

Only 4 billion Lek is the aid of the Rilindash government through the State Guarantee for the fashion business, but this amount is totally insufficient, because the data confirm that only due to the devaluation of the Euro, in one year, the financial losses in this sector are 110 million Euro.

This Guarantee is just a deceptive propaganda maneuver, as happened with the Guarantees during the pandemic that resulted in failures and frauds.

The deliberate devaluation of the Euro by the government is causing serious economic and social consequences. As the IMF noted in its latest report, this depreciation is not fully explained by economic fundamentals.

The official data in Albania are even more shocking.

Only during 2023, 12 billion Euros were converted in Albania, while this amount in 2016 was 6.5 billion Euros, while the historical average of Euro conversion was 5 billion Euros per year!

The economic collapse of exports and fashion business and the loss of thousands of jobs is the direct responsibility of the Renaissance government, which is the instigator, accomplice and main beneficiary of the money laundering of corruption and organized crime.

 

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