Ministry of Finances and Economy
Ministria e Financave dhe Ekonomisë
Logo of the ministry (2013–present)

Headquarters of the Ministry of Finances and Economy
Department overview
Formed4 December 1912 (1912-12-04)
Preceding Department
  • Ministry of Finances
JurisdictionCouncil of Ministers
HeadquartersDëshmorët e Kombit Boulevard 3,
1001 Tirana, Albania
Minister responsible
Websitefinanca.gov.al

The Ministry of Finances and Economy (Albanian: Ministria e Financave dhe Ekonomisë) is a department of the Albanian Government, responsible for matters relating to economic policy, the central government budget, taxes, banking, security and insurance, international economic work, central, regional and local government.

On 13 September 2017, the ministry was restructured by joining the Department of Economy, which was part of the Ministry of Economic Development, Tourism, Trade and Enterprise.

History

Early period

Abdi Toptani served as the first Minister of Finances (1912–1914)

It is one of the first departments created immediately after the independence of the Albania as part of the Provisional Government of Ismail Qemali formed on 5 December 1912. The first minister of Finance was appointed Abdi Toptani, where under his leadership were established the first financial institutions of the country, such as the establishment of the Bank of Albania on 4 October 1913, although this lasted for a few months.[1] During the first government, the first fiscal laws were approved for customs tariffs, import and export taxes, etc.

With the start of the Second Balkan War and the separatist rebellions of Essad Pasha Toptani, the Great Powers offered the crown of Albania to Prince Wilhelm of Wied, which he accepted on 7 March 1914. In the governments formed by him, Gaqo Adhamidhi, and later Filip Noga were appointed Minister of Finance. Nothing significant in terms of finances happened, given the situation with the control in the territory and the rebellions of different areas during this period.

Only after the Congress of Lushnjë held from 28 to 31 January 1920 and after the mandate of the Delvina Government or as it is otherwise known National Government, the Ministry of Finances headquarters moved to Tirana. Ndoc Çoba was appointed Minister of Finances. During the following years, the so-called Financial Directorates were established in Shkodër, Durrës, Elbasan, Gjirokastër, Korçë, and Vlorë, as well as financial offices in other cities. Laws banning the export of gold, silver, and cereals also came into force. The Customs Directorate was also established and the collection of customs tariffs on goods began. Then the law on the minting of the first Albanian banknote. The merits for the financial reforms of these years have Ndoc Çoba, Ahmet Dakli, Kol Thaçi, as well as the first General Director of the Albanian Customs, Ahmet Boriçi.[2]

Zog Presidency and the Second Albanian Kingdom

With the overthrow of Noli's government, Ahmet Zogu returned to power for the second time. On 25 January 1925, the Constitutional Assembly proclaimed the Republic of Albania, until then de jure continued to be the kingdom proclaimed in 1914 by the Great Powers. On 1 February 1925, Ahmet Zogu was elected President of Albania, being at the same time the head of the executive power.[3] During this time, he restored stability in the country, as well as enabled the signing of important economic, political, and military agreements that strengthened the position of Albania.

At the beginning of 1925, a series of developments started for the Albanian economy, both positive and negative. Initiatives began to organize joint-stock companies in the field of industry, construction, transport. In the same year, the first Albanian currency, the Albanian Franga, was created.[4] The introduction of foreign capital became the official policy of Zog's governments, which internally aimed to strengthen his power. He also used the granting of foreign capital concessions as a means of securing income for the regime, in the form of loans and rents, which was later thought of as a way out of the economic crisis.[3]

Between 1925 and 1927 it is considered that 14 new companies were created, while in 1928, the number of enterprises reached 127. The domestic capital was 6 times larger than in 1927, making in this period partial stability of the economy was achieved.[5]

The main feature of this period is the conclusion of agreements between the government of Tirana and Italian financial groups to invest in the country. Thus, in 1925 between the Albanian government of that time and the Italian financial group was signed the loan agreement of S.V.E.A where 96.4% of it was used by the Ministry of Public Works for road construction. This was done not only for the economic needs of the country but to create conditions for the penetration of foreign capital.[6]

Trade was the main field of the Albanian economy. During this period the turnover of goods increased. Agricultural and livestock raw materials were mainly exported.

Many Italian, English, French and American companies began to be present in the Albanian economy through concession agreements or direct investments. Such as: SISMA (Societa Italiana Sfrutamento Miniere Albania); SEIA (Societa Electrica Italo-Albanese); ALBA (Azienda Lavori Boschi Albania); EIAA (Ente Italiano Attivita Agraria); SESA, which received the electricity concession in 7 cities in Albania; Anglo-Persian Oil Company; the American company Standard Oil Co.; Franco-Albanian kerosene union; German company INAG for forest use etc.[7][8]

During the period 1925-1926, 23% of the territory of Albania was included in the concessions granted to foreign capital by the governments of Zog presidency. This gave a further impetus to the country's economy, which experienced some modest but still evident development in the period 1925-1928.[5]

After the early elections on 25 August 1928, a change of form of government was proposed, the Statutory Commission proposed a change of form of the regime from a republic to a monarchy. On 1 September 1928, the Constituent Assembly proclaimed: Ahmet Zogu "King of the Albanians" under the name Zog I.[9] At this time, the Basic Statute, the Civil Code, and the Commercial Code were adopted.[10]

In 1929, the whole world would be gripped by the Great Depression caused by overproduction. Albania would not escape its effects either. It was exactly this year when the first signs of this crisis were seen, mainly in the monetary and financial system of the country, but they became more sensitive in 1930 and reached their peak in 1934-1935.[11]

To mitigate the effects of the crisis of the continuous budget deficit and financial difficulties that were evidenced in many areas and sectors, many loans and credits were taken from Western countries, mostly from Italy. The bank reduced the amount of currency in circulation and deepened deflation. It artificially increased the value of the franc and which resulted in products' lower prices.

In the middle of 1935, Albania entered a phase of revival. The industry recovered. Zog created some fiscal facilities especially for the cement factory, which was exempt from taxes for three years.

Reorganization

Since the establishment of the institution, the Ministry of Finances has undergone several administrative changes to its organizational structure. When a new department was formed, it often merged with the ministry thus expanding its role, subsequently leading to the name of the ministry being changed. If that department later broke off as a separate ministry or was dissolved, the ministry reverted to its original name.[lower-alpha 1]

  • Ministry of Finances (1912–1939)
  • Minister State Secretary of Finances (1939–1943)
  • Ministry of Finances (1944–1992)
  • Ministry of Finances and Economy (1992–1993)
  • Ministry of Finances (1993–2017)
  • Ministry of Finances and Economy (2017–present)

Subordinate institutions

Officeholders (1912–present)

No. Name
Term in office
1 Abdi Toptani
Aziz Vrioni
4 December 1912 October 1913
2 Jorgji Çako October 1913 22 January 1914
3 Gaqo Adhamidhi 14 March 1914 20 May 1914
4 Filip Noga 28 May 1914 3 September 1914
5 Nexhati Libohova 5 October 1914 27 May 1915
6 Haxhi Isuf Banka 27 May 1915 27 January 1916
* Fejzi Alizoti[lower-alpha 2] 25 December 1918 29 January 1920
7 Ndoc Çoba 30 January 1920 14 November 1920
8 Tef Curani 15 November 1920 16 October 1921
9 Ahmed Dakli
→ Kol Thaçi
16 October 1921 12 December 1921
10 Sulejman Starova 12 December 1921 24 December 1921
11 Kol Thaçi 24 December 1921 25 February 1924
12 Luigj Gurakuqi 3 March 1924 16 April 1924
13 Mufid Libohova 30 May 1924 10 June 1924
Luigj Gurakuqi 16 June 1924 24 December 1924
Mufid Libohova 6 January 1925 23 September 1925
Sulejman Starova 28 September 1925 10 February 1927
14 Fejzi Alizoti 12 February 1927 20 October 1927
Sulejman Starova 24 October 1927 10 May 1928
15 Milto Tutulani 11 May 1928 5 March 1930
Kol Thaçi 6 March 1930 11 April 1931
16 Lame Kareco 20 April 1931 7 December 1932
17 Abdurrahman Dibra 11 January 1933 16 October 1935
18 Rrok Gera 21 October 1935 7 November 1936
Kol Thaçi 9 November 1936 7 April 1939
* Kosta Marku[lower-alpha 3] 8 April 12 April 1939
Fejzi Alizoti 12 April 1939 5 April 1940
19 Kemal Vrioni 5 April 1940 3 December 1941
20 Shuk Gurakuqi 3 December 1941 4 January 1943
21 Loro Musani 18 January 1943 11 February 1943
22 Kosta Marku 12 February 1943 28 April 1943
23 Andon Beça 11 May 1943 10 September 1943
24 Sokrat Dodbiba 5 November 1943 16 June 1944
* Ramadan Çitaku[lower-alpha 4] 28 May 1944 23 October 1944
Rrok Gera 18 July 1944 28 August 1944
25 Et'hem Cara 6 September 1944 25 October 1944
26 Ramadan Çitaku 23 October 1944 6 February 1948
27 Kiço Ngjela 6 February 1948 21 November 1948
28 Abdyl Këllezi 23 November 1948 31 July 1953
29 Tuk Jakova 1 August 1953 19 July 1954
Abdyl Këllezi 20 July 1954 3 June 1956
30 Aleks Verli 4 June 1956 28 October 1974
31 Lefter Goga 28 October 1974 11 November 1976
32 Haki Toska 12 November 1976 18 December 1981
33 Qirjako Mihali 15 January 1982 16 February 1984
34 Niko Gjyzari 16 February 1984 19 February 1987
35 Andrea Nako 20 February 1987 22 December 1990
36 Qemal Disha 22 December 1990 10 May 1991
37 Anastas Angjeli 11 May 1991 4 June 1991
38 Genc Ruli 11 June 1991 6 December 1991
39 Robert Çeku 18 December 1991 13 April 1992
Genc Ruli 13 April 1992 23 November 1993
40 Piro Dishnica 9 November 1943 3 December 1994
41 Dylber Vrioni 4 December 1994 10 July 1996
42 Ridvan Bode 11 July 1996 1 March 1997
43 Arben Malaj 11 March 1997 28 September 1998
Anastas Angjeli 2 October 1998 29 January 2002
44 Kastriot Islami 22 February 2002 29 December 2003
Arben Malaj 29 December 2003 10 September 2005
Ridvan Bode 11 September 2005 15 September 2013
45 Shkëlqim Cani 15 September 2013 17 February 2016
46 Arben Ahmetaj 26 February 2016 22 May 2017
47 Helga Vukaj 22 May 2017 13 September 2017
Arben Ahmetaj 13 September 2017 5 January 2019
48 Anila Denaj 17 January 2019 18 September 2021
49 Delina Ibrahimaj 18 September 2021 Incumbent

Notes

  1. The title "Substitutive" (gheg albanian: Zavëndësisht), often using the acronym "Zav.", references to the temporary exercise of duty by an official who was not formally appointed by the prime minister but occupied the interim role of the vacant minister. These officials are labeled in the list with an asterisk.
  2. Fejzi Alizoti served as a delegate from 1918 to 1920.
  3. Kosta Marku served as member in charge in 1939.
  4. Ramadan Çitaku served as member in charge from May until October 1944.

See also

Sources

  • Dervishi, Kastriot (2005), Historia e shtetit shqiptar 1912–2005: organizimi shtetëror, jeta politike, ngjarjet kryesore, të gjithë ligjvënësit, ministrat dhe kryetarët e shtetit shqiptar në historinë 93-vjeçare të tij (in Albanian), Shtëpia Botuese "55", OCLC 123286739
  • Dervishi, Kastriot (2012), Kryeministrat dhe ministrat e shtetit shqiptar në 100 vjet (in Albanian), Tiranë: Shtëpia Botuese "55", ISBN 978-99943-56-22-5
  • "Official Gazette of the Republic of Albania". Center of Official Publications (in Albanian).
  • Krasniqi, Afrim (2009), Sistemet Politike në Shqipëri 1912-2009 (in Albanian), Tiranë: UFO Press, ISBN 978-99956-19-36-7
  • Lampe, John R; Jackson, Marvin R (1982), Balkan economic history, 1550-1950: from imperial borderlands to developing nations, Bloomington: Indiana University Press, ISBN 978-0-253-30368-4, OCLC 7553792

References

  1. Historia e Bankës Qendrore në Shqipër (PDF) (in Albanian). Tirana: Bank of Albania. 2003. p. 5.
  2. "Historia e Financave Shqiptare". Gazeta Dita. Retrieved 2021-10-01.
  3. 1 2 Public Domain This article incorporates text from this source, which is in the public domain. Charles Sudetic (April 1992). "Interwar Albania, 1918-41". In Zickel, Raymond; Iwaskiw, Walter R. (eds.). Albania: A country study. Federal Research Division, Library of Congress. LCCN 93042885.
  4. "Albanian Gold Coins - Albania". taxfreegold.co.uk. Retrieved 2021-10-02.
  5. 1 2 "100 vjet: Ekonomia e kohës së Zogut dhe L II Botërore -". Revista Monitor. 2012-11-28. Retrieved 2021-10-02.
  6. Poulain, Michel (1978). "L'Albanie dans la politique des Puissances, 1921-1926". Revue d'Histoire Moderne & Contemporaine. 25 (4): 530–555. doi:10.3406/rhmc.1978.1037.
  7. "A.I.P.A. - L'iniziativa industriale italiana in Albania - 1935-1943". Albania News (in Italian). 2019-07-07. Retrieved 2021-10-02.
  8. Studime historike (in Albanian). Akademia e Shkencave, Instituti i Historisë. 1967.
  9. "Zog I | king of Albania". Encyclopedia Britannica. Retrieved 2021-10-03.
  10. Historia e Shqipërisë: 1912-1944 (in Albanian). Akademia e Shkencave e RPS të Shqipërisë, Instituti i Historisë. 1984.
  11. Fishta, Iljaz; Universiteti Shtetëror i Tiranës; Fakulteti i Ekonomisë (1971). Sistemi monetar dhe i kreditit në Shquipëri: (1925-1944) (in Albanian). Tiranë: Universiteti i Tiranës, Fakulteti i Ekonomisë. OCLC 690092829.
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