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388.5 million euros is the financial damage to the state budget caused by the decisions of the Arbitration.
The figure was published by the Supreme State Audit in an audit conducted, according to which so far decisions have been given on 9 cases and 5 others are under trial.
According to KLSH, the State Advocacy does not have complete information on the recognition of these decisions and the payments to be executed and requires the immediate creation of a database with data on these cases.
“It is a very high figure. There have been no cases of Albania with such a high figure. Care must be taken when contracts are broken, when licenses are revoked, a thorough analysis must be done before taking such action. It is the duty of the Albanian government to make an analysis of the lost trials after this report, how these contracts are broken and with those responsible. In addition to breaking contracts, they are also paying a lot of money for law firms that burden the bill.
Former State Attorney Ledina Mandia explains that the issues of foreign investors are more worrying because of the specifics they carry. She adds that detailed analysis is needed from the signing of contracts to avoid the high costs of arbitration decisions.
“Foreign investment issues are very problematic because they are based on a convention for the protection of foreign investors where Albania is a party and moreover are also based on bilateral agreements. In such conditions, there is a diplomatic character to the correct behavior towards the behavior of foreign investors. ” Ledina Mandia, former State Attorney
The costs of the decisions are expected to further burden the state budget in case those that are in the process end up to the disadvantage of the Albanian state. A few months ago the State Attorney’s Office launched another call for finding a law firm that appears to be defending the government in a new arbitration case.
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