{"id":25523,"date":"2026-10-09T10:33:19","date_gmt":"2026-10-09T08:33:19","guid":{"rendered":"https:\/\/ekolajmi.com\/?p=25523"},"modified":"2026-10-09T10:33:19","modified_gmt":"2026-10-09T08:33:19","slug":"euro-bie-dukshem-kundrejt-dollarit-dw-pritet-te-perkeqesoje-inflacionin-ne-be","status":"publish","type":"post","link":"https:\/\/ekolajmi.com\/index.php\/2026\/10\/09\/euro-bie-dukshem-kundrejt-dollarit-dw-pritet-te-perkeqesoje-inflacionin-ne-be\/","title":{"rendered":"\u201cEuro bie duksh\u00ebm kundrejt dollarit\u201d- DW: Pritet t\u00eb p\u00ebrkeq\u00ebsoj\u00eb inflacionin n\u00eb BE"},"content":{"rendered":"

Euro ka r\u00ebn\u00eb ndjesh\u00ebm kundrejt dollarit t\u00eb SHBA-s\u00eb n\u00eb 17 muajt e fundit. Kjo pritet t\u00eb p\u00ebrkeq\u00ebsoj\u00eb inflacionin n\u00eb BE, ku investitor\u00ebt jan\u00eb t\u00eb shqet\u00ebsuar nga pasiguria politike dhe niveli i lart\u00eb i borxhit n\u00eb Franc\u00eb.<\/p>\n

Euro arriti nj\u00eb minimum 17-mujor kundrejt dollarit n\u00eb tregtimet e hershme t\u00eb s\u00eb h\u00ebn\u00ebs, nd\u00ebrsa shqet\u00ebsimet p\u00ebr borxhin e vendeve t\u00eb eurozon\u00ebs, ve\u00e7an\u00ebrisht t\u00eb Franc\u00ebs, iu shtuan frik\u00ebs ekzistuese t\u00eb investitor\u00ebve p\u00ebr rritjen e normave t\u00eb interesit t\u00eb obligacioneve shtet\u00ebrore dhe \u00e7mimet n\u00eb rritje t\u00eb naft\u00ebs.<\/p>\n

Gjat\u00eb pjes\u00ebs m\u00eb t\u00eb madhe t\u00eb vitit 2026, euro ka qen\u00eb n\u00eb r\u00ebnie kundrejt dollarit, duke humbur rreth 5% t\u00eb vler\u00ebs q\u00eb nga fillimi i vitit. T\u00eb h\u00ebn\u00ebn (05.10.2026) ajo zbriti n\u00eb 1,12 dollar\u00eb, niveli m\u00eb i ul\u00ebt q\u00eb nga fillimi i vitit 2025.<\/p>\n

Ricardo Amaro, kryeekonomist p\u00ebr eurozon\u00ebn n\u00eb Oxford Economics, tha p\u00ebr DW se r\u00ebnia e p\u00ebrgjithshme lidhet me ndryshimin e pritshm\u00ebrive t\u00eb investitor\u00ebve p\u00ebr politik\u00ebn e Rezerv\u00ebs Federale Amerikane (Fed), e cila po p\u00ebrballet me presion p\u00ebr norma m\u00eb t\u00eb larta interesi n\u00eb kushtet e rritjes s\u00eb rendimenteve globale t\u00eb obligacioneve.<\/p>\n

Megjithat\u00eb, sipas tij, shitjet e fundit masive t\u00eb euros jan\u00eb nxitur ve\u00e7an\u00ebrisht nga shqet\u00ebsimet lidhur me Franc\u00ebn, ku \u201cinvestitor\u00ebt po p\u00ebrgatiten p\u00ebr nj\u00eb rrezik m\u00eb t\u00eb lart\u00eb fiskal\u201d.<\/p>\n

Problemi francez<\/strong>
\nShitja e obligacioneve franceze u p\u00ebrshpejtua jav\u00ebn e kaluar, nd\u00ebrsa dyshimet p\u00ebr q\u00ebndrueshm\u00ebrin\u00eb afatgjat\u00eb t\u00eb financave publike t\u00eb vendit po shtohen. Rendimenti i obligacioneve 10-vje\u00e7are franceze, q\u00eb tregon koston e huamarrjes s\u00eb shtetit, u rrit deri n\u00eb 5% para se t\u00eb zbriste leht\u00ebsisht.<\/p>\n

Franca ka prej koh\u00ebsh probleme strukturore financiare. Q\u00eb kur presidenti Emmanuel Macron mori detyr\u00ebn n\u00eb maj 2017, shpenzimet publike jan\u00eb rritur, nd\u00ebrkoh\u00eb q\u00eb ai ka zbatuar ulje t\u00eb konsiderueshme t\u00eb taksave. Si rezultat, borxhi komb\u00ebtar \u00ebsht\u00eb rritur me mbi 1 trilion euro.<\/p>\n

Raporti borxh ndaj Prodhimit t\u00eb Brendsh\u00ebm Bruto n\u00eb Franc\u00eb tani \u00ebsht\u00eb pothuajse 118%. Vendi vazhdon t\u00eb ket\u00eb buxhete jo t\u00eb balancuara dhe deficiti vjetor buxhetor \u00ebsht\u00eb rregullisht mbi 5%, krahasuar me 3,4% kur Macron mori pushtetin.<\/p>\n

P\u00ebr shum\u00eb investitor\u00eb, shqet\u00ebsimet m\u00eb t\u00eb m\u00ebdha p\u00ebr rritjen e dob\u00ebt ekonomike n\u00eb eurozon\u00eb dhe \u00e7mimet n\u00eb rritje t\u00eb energjis\u00eb kan\u00eb \u00e7uar n\u00eb nj\u00eb fokus t\u00eb shtuar te Franca, duke b\u00ebr\u00eb q\u00eb kapitali t\u00eb zhvendoset drejt investimeve q\u00eb konsiderohen m\u00eb t\u00eb sigurta, si\u00e7 \u00ebsht\u00eb borxhi shtet\u00ebror gjerman.<\/p>\n

Diferenca midis rendimenteve t\u00eb obligacioneve 10-vje\u00e7are franceze dhe gjermane arriti jav\u00ebn e kaluar nivelin m\u00eb t\u00eb lart\u00eb q\u00eb nga kriza e borxhit t\u00eb eurozon\u00ebs, nj\u00eb tregues i r\u00ebnd\u00ebsish\u00ebm i stabilitetit financiar n\u00eb BE.<\/p>\n

\u00c7far\u00eb mund t\u00eb b\u00ebj\u00eb Banka Qendrore Evropiane?<\/strong>
\nPresioni mbi euron dhe tregjet e tjera t\u00eb obligacioneve shtet\u00ebrore, p\u00ebrfshir\u00eb at\u00eb italian, ka nxitur thirrje q\u00eb Banka Qendrore Evropiane (BQE) t\u00eb nd\u00ebrhyj\u00eb p\u00ebr t\u00eb parandaluar q\u00eb shqet\u00ebsimet p\u00ebr Franc\u00ebn t\u00eb shnd\u00ebrrohen n\u00eb panik. Jim Reid nga Deutsche Bank shkroi n\u00eb nj\u00eb analiz\u00eb t\u00eb h\u00ebn\u00ebn, se n\u00eb nj\u00eb moment jav\u00ebn e kaluar, diferenca mes obligacioneve franceze dhe gjermane ishte zgjeruar aq shum\u00eb sa q\u00eb nj\u00eb \u201cmini-panik\u201d dukej i af\u00ebrt.<\/p>\n

\u201cPyetja kryesore \u00ebsht\u00eb n\u00ebse ky \u00ebsht\u00eb fillimi i nj\u00eb krize t\u00eb re t\u00eb borxhit n\u00eb eurozon\u00eb apo n\u00ebse tregjet kan\u00eb reaguar n\u00eb m\u00ebnyr\u00eb t\u00eb ekzagjeruar\u201d, tha ai. Ricardo Amaro theksoi se situata paraqet nj\u00eb sfid\u00eb p\u00ebr BQE-n\u00eb, e cila duhet t\u00eb veproj\u00eb pa e p\u00ebrkeq\u00ebsuar gjendjen.<\/p>\n

\u201cQ\u00ebndrimi i theksuar restriktiv n\u00eb politik\u00ebn monetare do t\u00eb shtonte presionin mbi rendimentet e obligacioneve franceze, t\u00eb cilat tashm\u00eb jan\u00eb b\u00ebr\u00eb nj\u00eb faktor i r\u00ebnd\u00ebsish\u00ebm n\u00eb dob\u00ebsimin e euros\u201d, tha ai. Sipas tij, politik\u00ebb\u00ebr\u00ebsit do t\u00eb vazhdojn\u00eb t\u00eb monitorojn\u00eb zhvillimet n\u00eb kursin e k\u00ebmbimit mes dollarit dhe euros, por p\u00ebr momentin nuk pritet t\u00eb nd\u00ebrhyjn\u00eb drejtp\u00ebrdrejt n\u00eb treg.<\/p>\n

\u00c7far\u00eb rrezikohet?<\/strong>
\nPasiguria mbetet e lart\u00eb si p\u00ebr shkak t\u00eb faktor\u00ebve politik\u00eb, ashtu edhe atyre ekonomik\u00eb. Vitet e fundit Franca \u00ebsht\u00eb p\u00ebrballur me kriza t\u00eb shumta politike dhe miratimi i buxheteve vjetore \u00ebsht\u00eb b\u00ebr\u00eb nj\u00eb prov\u00eb vendimtare p\u00ebr stabilitetin e qeverive.<\/p>\n

Megjith\u00ebse buxheti p\u00ebr vitin 2027 \u00ebsht\u00eb miratuar dhe p\u00ebrfshin reforma p\u00ebr uljen e deficitit, partia e djatht\u00eb Rassemblement National (RN) mbetet n\u00eb pozita t\u00eb forta p\u00ebrpara zgjedhjeve presidenciale t\u00eb vitit 2027, ku Marine Le Pen pritet t\u00eb jet\u00eb kandidatja kryesore.<\/p>\n

Investitor\u00ebt shqet\u00ebsohen p\u00ebr drejtimin q\u00eb mund t\u00eb marr\u00eb politika ekonomike franceze n\u00ebse Le Pen fiton presidenc\u00ebn. Nj\u00eb situat\u00eb e ngjashme po shihet edhe n\u00eb Gjermani, ku rritja e mb\u00ebshtetjes p\u00ebr partin\u00eb populiste AfD ka ngritur pik\u00ebpyetje mbi drejtimin e ardhsh\u00ebm t\u00eb ekonomis\u00eb m\u00eb t\u00eb madhe t\u00eb BE-s\u00eb.<\/p>\n

Nj\u00eb nga arsyet kryesore p\u00ebr paqendrueshm\u00ebrin\u00eb politike \u00ebsht\u00eb pak\u00ebnaq\u00ebsia e qytetar\u00ebve p\u00ebr koston e lart\u00eb t\u00eb jetes\u00ebs. N\u00eb Spanj\u00eb, kryeministri Pedro S\u00e1nchez ka shpallur zgjedhje t\u00eb parakohshme pasi masat p\u00ebr p\u00ebrballimin e kriz\u00ebs s\u00eb strehimit u rr\u00ebzuan n\u00eb parlament.<\/p>\n

Dob\u00ebsimi i euros dhe inflacioni<\/strong>
\nSipas Amaros, dob\u00ebsimi i euros mund ta p\u00ebrkeq\u00ebsoj\u00eb m\u00eb tej problemin e inflacionit. \u201cNj\u00eb dob\u00ebsim m\u00eb i fort\u00eb i euros do t\u00eb p\u00ebrforconte goditjen inflacioniste n\u00eb nj\u00eb koh\u00eb kur inflacioni pritet t\u00eb mbetet i lart\u00eb deri n\u00eb vitin 2027\u201d, tha ai.<\/p>\n

Nj\u00eb euro m\u00eb e dob\u00ebt rrit koston e mallrave t\u00eb importuara, ve\u00e7an\u00ebrisht atyre q\u00eb tregtohen n\u00eb dollar\u00eb amerikan\u00eb. Mallrat baz\u00eb globale si nafta dhe gazi \u00e7mohen n\u00eb dollar\u00eb, prandaj rritja e \u00e7mimeve t\u00eb energjis\u00eb ka gjasa t\u00eb b\u00ebhet edhe m\u00eb e shtrenjt\u00eb p\u00ebr vendet e eurozon\u00ebs.<\/p>\n

Kriza e ardhshme financiare?<\/strong>
\nMe kujtimet e kriz\u00ebs s\u00eb borxhit shtet\u00ebror q\u00eb goditi Bashkimin Evropian n\u00eb fillim t\u00eb viteve 2010 ende t\u00eb fresk\u00ebta, shum\u00eb analist\u00eb po pyesin n\u00ebse l\u00ebvizjet e fundit n\u00eb tregun e borxhit francez jan\u00eb shenja t\u00eb nj\u00eb krize t\u00eb re n\u00eb eurozon\u00eb.<\/p>\n

Disa ekspert\u00eb, si Geoffrey Yu nga BNY, mendojn\u00eb se k\u00ebto krahasime jan\u00eb t\u00eb ekzagjeruara. \u201cKrahasimet me vitin 2012 jan\u00eb larg realitetit\u201d, tha ai. Megjithat\u00eb, Amaro paralajm\u00ebron se pritshm\u00ebrit\u00eb p\u00ebr rritje t\u00eb m\u00ebtejshme t\u00eb normave t\u00eb interesit nga BQE-ja k\u00ebt\u00eb vit, s\u00eb bashku me perspektiv\u00ebn e p\u00ebrkeq\u00ebsuar t\u00eb inflacionit, e b\u00ebjn\u00eb situat\u00ebn ve\u00e7an\u00ebrisht delikate. \u201cDob\u00ebsimi i euros nuk duhet par\u00eb si nj\u00eb zhvillim i izoluar\u201d, tha ai. \u201cN\u00ebse ai shkaktohet nga shqet\u00ebsimet n\u00eb rritje p\u00ebr situat\u00ebn financiare t\u00eb Franc\u00ebs, at\u00ebher\u00eb BQE-ja do t\u00eb duhet t\u00eb veproj\u00eb me shum\u00eb kujdes p\u00ebr shkak t\u00eb rreziqeve q\u00eb paraqiten p\u00ebr eurozon\u00ebn.\u201d<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Euro ka r\u00ebn\u00eb ndjesh\u00ebm kundrejt dollarit t\u00eb SHBA-s\u00eb n\u00eb 17 muajt e fundit. Kjo pritet t\u00eb p\u00ebrkeq\u00ebsoj\u00eb inflacionin n\u00eb BE, ku investitor\u00ebt jan\u00eb t\u00eb shqet\u00ebsuar nga pasiguria politike dhe niveli i lart\u00eb i borxhit n\u00eb Franc\u00eb. Euro arriti nj\u00eb minimum 17-mujor kundrejt dollarit n\u00eb tregtimet e hershme t\u00eb s\u00eb h\u00ebn\u00ebs, nd\u00ebrsa shqet\u00ebsimet p\u00ebr borxhin e […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3,8,58,57,59],"tags":[],"class_list":["post-25523","post","type-post","status-publish","format-standard","hentry","category-aktuale","category-ekonomi","category-kosove","category-lajmet","category-politike-lajmet"],"acf":[],"_links":{"self":[{"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/posts\/25523","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/comments?post=25523"}],"version-history":[{"count":1,"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/posts\/25523\/revisions"}],"predecessor-version":[{"id":25525,"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/posts\/25523\/revisions\/25525"}],"wp:attachment":[{"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/media?parent=25523"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/categories?post=25523"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ekolajmi.com\/index.php\/wp-json\/wp\/v2\/tags?post=25523"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}