This report covers the key macroeconomic and financial releases as well as the political events from Albania for the period of December 10, 2015 – January 11, 2016. World Bank sees Albanian economy growing by 3.4% in 2016 Bankers Petroleum adopts $65mn capital programme for Albanian operations in 2016 C-bank keeps key rate unchanged at 1.75% Operator of Tirana airport bows to pressure over exclusive rights to international flights Albanian prosecutors find damages of €60mn to state budget from various fraud schemes in H2 2015 Albanian president ratifies amnesty law as part of EU-required judiciary reforms Key points: • CPI inflation slows slightly to 2% y/y in Dec 2015 • Albania’s economy expands by 2.98% y/y in Q3 2015 • Albanian govt cuts 11-mo budget gap by 40.9%, revenues 4.2% below plan • Albania's foreign visitors up 12.7% y/y in Q3 • Albania's registered jobless rate down 0.6pp q/q, up 0.3pp y/y to 13.2% in Q3 • Albania's NPL ratio falls to 19.9% at end-Nov