Minister of Economy and Innovation, Delina Ibrahimaj, participated on Thursday in the forum on natural disaster risk, resilience, and fiscal stability, organized by the Financial Supervisory Authority, held in Tirana.

Minister Ibrahimaj emphasized that natural disasters should be treated as risks with a direct impact on the lives of citizens, the economy, and the fiscal stability of the country, underlining the need for long-term policies and sustainable protective mechanisms.

She brought to attention the consequences of the 2019 earthquake, as well as the recurring phenomena of floods and fires, which, according to her, are becoming increasingly frequent.

The Minister stated that it is necessary to establish institutional and financial mechanisms to minimize the economic and fiscal impact of these disasters.

Ibrahimaj announced that the Albanian government has established a technical group, led by the Ministry of Finance, for several years to draft a law on natural disasters, with a special focus on earthquakes and floods.

Referring to World Bank estimates, she emphasized that Albania remains one of the countries with the highest exposure to natural disasters in Europe, where about 86% of the territory and over 88% of the population are exposed to these risks.

The minister also underlined that the cost to the state budget from the 2019 earthquake reached about Euro 1 billion, highlighting the need to strengthen financial and fiscal protection against natural disasters.

Minister Ibrahimaj raised concern about the very low level of insurance of homes and businesses against earthquake and flood risks, emphasizing that the insurance culture in the country still remains limited.