Today is the 8th day of the war in the Middle East, while the economic consequences resulting from the attacks are expected to be huge.
Ergis Sefa, an economics expert, was invited to "This Week" with Nisida Tufa, in News24, where he made an analysis of what is expected to happen.
"We are still in a panic situation, it will take several weeks to understand the effect on the price of oil and natural gas."
"If the war lasts another 4-5 weeks, we will start to feel the effect of supply disruption, in addition to the price.", he said.
Meanwhile, regarding the situation in Albania, he stated that two of the reasons that worsen the situation are strategic reserves and the fact that 100 percent of the oil used in our country is imported.
"We should have strategic reserves for up to 90 days, whether private or state-owned companies, the second and most important factor is that we import every liter of oil we use. Even what is used in Ballsh is sent abroad to be processed, because we do not have a refinery."
As long as you import 100 percent of your product, you are dependent on international markets. Prices cannot be amortized.
Operators must react when the price stabilizes higher on the stock exchange, but since operators see the trend, they are now speculating on prices.
"I hope there will be an investigation and monitoring with retroactive effect for several years to come. The Competition Authority has this tag. Operators cannot set a price when selling old cargo, because they do not justify the costs," he said.
