Ministry of Finances and Economy (Albania)

Last updated • 6 min readFrom Wikipedia, The Free Encyclopedia
Ministry of Finances and Economy
Ministria e Financave dhe Ekonomisë
Ministria e Financave dhe Ekonomise.svg
Logo of the ministry (2013–present)
Tirana - The Ministry of Defence and MAFCP.jpg
Headquarters of the Ministry of Finances and Economy
Department overview
Formed4 December 1912;112 years ago (1912-12-04)
Preceding Department
  • Ministry of Finances
Jurisdiction Council of Ministers
Headquarters Dëshmorët e Kombit Boulevard 3,
1001 Tirana, Albania
Minister responsible
Website financa.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.

Contents

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) Abdi Toptani.jpg
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. [a]

Subordinate institutions

Officeholders (1912–present)

No.NameTerm in office
1 Abdi Toptani
Aziz Vrioni
4 December 1912October 1913
2 Jorgji Çako October 191322 January 1914
3 Gaqo Adhamidhi 14 March 191420 May 1914
4 Filip Noga 28 May 19143 September 1914
5 Nexhati Libohova 5 October 191427 May 1915
6 Haxhi Isuf Banka 27 May 191527 January 1916
* Fejzi Alizoti [b] 25 December 191829 January 1920
7 Ndoc Çoba 30 January 192014 November 1920
8Tef Curani15 November 192016 October 1921
9Ahmed Dakli
Kol Thaçi
16 October 192112 December 1921
10 Sulejman Starova 12 December 192124 December 1921
11 Kol Thaçi 24 December 192125 February 1924
12 Luigj Gurakuqi 3 March 192416 April 1924
13 Mufid Libohova 30 May 192410 June 1924
Luigj Gurakuqi 16 June 192424 December 1924
Mufid Libohova 6 January 192523 September 1925
Sulejman Starova 28 September 192510 February 1927
14 Fejzi Alizoti 12 February 192720 October 1927
Sulejman Starova 24 October 192710 May 1928
15Milto Tutulani11 May 19285 March 1930
Kol Thaçi6 March 193011 April 1931
16Lame Kareco20 April 19317 December 1932
17 Abdurrahman Dibra 11 January 193316 October 1935
18Rrok Gera21 October 19357 November 1936
Kol Thaçi9 November 19367 April 1939
*Kosta Marku [c] 8 April12 April 1939
Fejzi Alizoti 12 April 19395 April 1940
19 Kemal Vrioni 5 April 19403 December 1941
20Shuk Gurakuqi3 December 19414 January 1943
21Loro Musani18 January 194311 February 1943
22Kosta Marku12 February 194328 April 1943
23 Andon Beça 11 May 194310 September 1943
24Sokrat Dodbiba5 November 194316 June 1944
* Ramadan Çitaku [d] 28 May 194423 October 1944
Rrok Gera18 July 194428 August 1944
25 Et'hem Cara 6 September 194425 October 1944
26 Ramadan Çitaku 23 October 19446 February 1948
27 Kiço Ngjela 6 February 194821 November 1948
28 Abdyl Këllezi 23 November 194831 July 1953
29 Tuk Jakova 1 August 195319 July 1954
Abdyl Këllezi 20 July 19543 June 1956
30Aleks Verli4 June 195628 October 1974
31 Lefter Goga 28 October 197411 November 1976
32 Haki Toska 12 November 197618 December 1981
33 Qirjako Mihali 15 January 198216 February 1984
34 Niko Gjyzari 16 February 198419 February 1987
35Andrea Nako20 February 198722 December 1990
36Qemal Disha22 December 199010 May 1991
37Anastas Angjeli11 May 19914 June 1991
38 Genc Ruli 11 June 19916 December 1991
39Robert Çeku18 December 199113 April 1992
Genc Ruli 13 April 199223 November 1993
40Piro Dishnica9 November 19433 December 1994
41Dylber Vrioni4 December 199410 July 1996
42 Ridvan Bode 11 July 19961 March 1997
43 Arben Malaj 11 March 199728 September 1998
Anastas Angjeli2 October 199829 January 2002
44 Kastriot Islami 22 February 200229 December 2003
Arben Malaj 29 December 200310 September 2005
Ridvan Bode 11 September 200515 September 2013
45 Shkëlqim Cani 15 September 201317 February 2016
46 Arben Ahmetaj 26 February 201622 May 2017
47Helga Vukaj22 May 201713 September 2017
Arben Ahmetaj 13 September 20175 January 2019
48 Anila Denaj 17 January 201918 September 2021
49 Delina Ibrahimaj 18 September 20219 September 2023
50Ervin Mete9 September 202330 July 2024
51Petrit Malaj30 July 2024Incumbent

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

Related Research Articles

<span class="mw-page-title-main">Albanian Republic (1925–1928)</span> Republic in Europe between 1925 and 1928

The Albanian Republic was the official name of Albania as enshrined in the Constitution of 1925. Albania came into an alliance with the Kingdom of Italy after signing the Treaties of Tirana, which gave Italy a monopoly on shipping and trade concessions. Albania was declared a constitutional monarchy in 1928. Upon its inception, Italy demanded to be allies with the republic. This was done largely to increase Italy's influence in the Balkans, and to aid Italian and Albanian security in their territorial feuds with the Second Hellenic Republic and the Kingdom of Serbs, Croats, and Slovenes.

<span class="mw-page-title-main">Provisional Government of Albania</span> First Government of Albania (4 December 1912- 22 January 1914)

The Provisional Government of Albania, also called the Qemali Government, was the first government of Albania, created by the Assembly of Vlorë on 4 December 1912. It was a paternal government, led by Ismail Qemali, until his resignation on 22 January 1914, followed by the International Control Commission until the proclamation of the Principality of Albania.

<span class="mw-page-title-main">Xhemil Dino</span> Albanian diplomat

Xhemil Dino was an Albanian politician and diplomat.

<span class="mw-page-title-main">Rauf Fico</span> Albanian diplomat and politician

Abdurrauf Fico (1881–1944), also known as Rauf Fitso Bey was an Albanian ambassador and politician.

<span class="mw-page-title-main">Eshref Frashëri</span> Albanian politician (1874–1938)

Eshref Effendy Frasheri, also referred to as Eshtref Bey Frashëri, was an Albanian politician. He served as co-Chairman of the National Council of Albania from 1921 until 1923 and Deputy Chairman 1932-1938.

<span class="mw-page-title-main">Democratic Government of Albania</span> 1944–1946 Albanian provisional government

The Democratic Government of Albania also known as the Hoxha I Government was established on 20 October 1944 by the National Liberation Movement, as the Albanian partisan resistance of 1940–1944 came to a close. A provisional government took power after the liberation of the country from German forces on 28 November. Its interim Prime Minister was Secretary-General Enver Hoxha of the Communist Party of Albania. The interim government was to be in existence until the holding of elections and the convening of a Constituent Assembly.

<span class="mw-page-title-main">Bahri Omari</span> Albanian politician (1889–1945)

Bahri Omari was an Albanian politician, publisher, and writer.

<span class="mw-page-title-main">Committee for the National Defence of Kosovo</span> Political activist organisation

The Committee for the National Defence of Kosovo was an Albanian organization founded in Shkodër on 1 May 1918. It mainly consisted of the political exiles from Kosovo and was led by Hoxha Kadri from Pristina. It had existed in looser form since May 1915.

<span class="mw-page-title-main">Aqif Pasha Elbasani</span> Albanian politician and activist involved in the Albanian National Awakening

Aqif Pasha Biçaku mostly known as Aqif Pashë Elbasani was an Ottoman Albanian political figure in the Sanjak of Elbasan and after the Young Turk Revolution became an activist for the Albanian national cause.

Jorgji Çako, also known as Gjergj Çako, was an Albanian lawyer and politician who served as Minister of Finances in the first provisional government of Ismail Qemali.

The Treaties of Tirana were signed in Tirana between Albania and Italy in the 1920s, bringing Albania into the Italian sphere of influence and gradually turning the Albanian state into a de facto protectorate of Italy.

The Ministry of Industry and Mines was a department of the Government of Albania responsible for the proposal and execution of government policies on the country's industry and the promotion and defence of industrial property.

<span class="mw-page-title-main">Mustafa Aranitasi</span> Albanian military commander and politician

Mustafa Aranitasi was an Albanian military commander and politician who served as Minister of War on two separate terms during the 1920s. A Zog loyalist, he played an important role in the reformation of the Albanian Army during this time period.

Haxhi Isuf Banka (Zhelegu) (1864 – September 1, 1944) was an Albanian economist and politician who served as Minister of Finances in the Toptani Government.

<span class="mw-page-title-main">Ndoc Çoba</span> Albanian economist, publicist and politician

Ndoc Çoba (1870–1945) was an Albanian economist, publicist and politician who served as Minister of Finances in the Delvina Government.

<span class="mw-page-title-main">Sulejman Starova (politician)</span>

Sulejman Starova was an Albanian financier and politician who served as Minister of Finances on three separate terms during the 1920s. For his contribution to the national cause, he was awarded posthumously the title "Honorary Citizen" of the local municipality of Buçimas.

<span class="mw-page-title-main">Zija Dibra</span> Ottoman and later Albanian officer and politician

Zija Dibra was an Ottoman and later Albanian officer and politician, Minister of Foreign Affairs and Minister of War of Albania.

The First Evangjeli Government, also known as the Sacred Union Government was formed on 16 October 1921 and lasted until 6 December. The government was formed after the territorial Integrity of Albania was threatened by Yugoslavia.

Milto Tutulani was an Albanian politician and activist. He was the former Minister of Justice of Albania from 12 May 1923 till 25 February 1924. He was succeeded by Benedikt Blinishti, who was also succeeded by Stavro Vinjau. The Ministry of Justice was one of the original ministries created soon after the Independence of Albania in 1912.

<span class="mw-page-title-main">Economy of the Kingdom of Albania (1928–1939)</span>

After the First World War, Albania was in a meagre state, suffering from lack of proper investment into public infrastructure and next to no industrial enterprises that were profitable to the Albanian state. With Albania not having a sufficient industrial base, it had a big trade deficit which was sought to be solved with protectionism, with foreign workers being banned in March of 1925, exports of meat and poultry being banned in the same month and export of corn, barley, and wheat being banned in May of 1929, to name some examples.

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 PD-icon.svg 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.