BUDGET DEFICIT - ITS IMPACT ON THE ALBANIAN REGIONAL ECONOMY AND SOME FACTORS THAT HAS INFLUENCE

A budget deficit is a financial situation where the government's expenditures exceed its revenues for a specified period, usually a fiscal year. Albania recorded a Government Budget deficit equal to 1.40 percent of the country's Gross Domestic Product in 2023. Government Budget in Albania averaged -5.58 percent of GDP from 1993 until 2023, reaching an all time high of -1.40 percent of GDP in 2023 and a record low of - 12.60 percent of GDP in 1997. This deficit must be financed from other sources, often through borrowing. The budget deficit is a common phenomenon in modern economies, but when it is persistent and high, it can create major challenges for a country 's economy. The study of the budget deficit is essential to understand the fiscal health of an economy and to assess its effects on various macroeconomic variables, such as economic growth, inflation, and unemployment. In particular, persistent deficits can lead to a sustainable public debt that can limit a country's ability to finance public services and invest in long-term development. The purpose of this topic is to analyze in depth the budget deficit, the causes that lead to its creation, and the impact it has on a country's economy. This includes an examination of the factors that influence the budget deficit and the strategies that can be used to manage and reduce it. Through case studies, concrete examples from different countries will be examined to illustrate the impacts and possible solutions. In conclusion, this paper aims to provide practical recommendations for policy makers and researchers to improve fiscal management and reduce the negative impacts of the budget deficit. in economics.

Ismet VOKA - Professor Assistatn, Departament of Economics, University Business College, Tirana, Albania. is-voka@hotmail.com

Rezart DIBRA - Professor Assistant, Departament of Economics, University Business College, Tirana, Albania. rezartdibra@yahoo.com

E60, F10, G10, R10

THE EFFICACY OF TECHNICAL ANALYSIS IN THE FOREIGN EXCHANGE MARKET: A CASE STUDY OF THE USD/JPY PAIR

Financial markets, known for their unpredictability (Lee, 2020), present significant challenges for researchers. Technical analysis, rooted in the principle of market efficiency, focuses on price movements to predict future trends (Fang & Jacobsen, 2024). Originating in the 17th century, technical analysis has gained prominence in modern financial markets (Dongrey, 2022). Technical analysts rely on historical forex data (Garza Sepúlveda et al., 2023) and employ various tools, including candlestick patterns, moving averages, trendlines, resistance levels, and indicators like Bollinger Bands, MACD, RSI, and moving averages, to forecast price movements (Oktaba & Grzywińska-Rąpca, 2024). This study aimed to evaluate the effectiveness of technical analysis in the foreign exchange market by analyzing historical USD/JPY data from 2019, a period unaffected by major global events. The USD/JPY pair was chosen due to its high volatility and economic significance (Fiszeder, 2018 and Peng et al., 2021). Our analysis involved identifying support and resistance levels, trends, and applying various technical indicators to assess their effectiveness in predicting market movements (Mate & Jimeńez, 2021). The findings validate the use of technical analysis tools, demonstrating their ability to identify potential reversal and continuation zones.

Fernando TEIXEIRA - Professor Assistant, Instituto Politécnico de Beja, Portugal Smart Cities Research Center fernando.teixeira@ipbeja.pt

Susana Soares Pinheiro Vieira PESCADA - Professor Assistant, Faculty of Economy, University of Algarve, Portugal Cin Turs - Research Center for Tourism, Sustainability and Well-being spescada@ualg.pt

Filipos RUXHO - Professor Assistant, Faculty of Agribusiness, University Haxhi Zeka of Preja, Kosovo Filipos.ruxho@unhz.eu

G10, G14, G15

SOCIAL PROTECTION IN GREECE AND SUSTAINABLE DEVELOPMENT LEAVING NO ONE BEHIND

Sustainable development leaving no one behind and social protection in line with its institutional framework are crucial for the well-being of local communities. The literature shows, however, that a general and growing recognition of sustainable development alone does not provide equal opportunities to different segments of society. Our research found that in Greece regions and local communities clearly have an important role to play in the development of new social protection policies for sustainable and inclusive growth. The key challenges for defining inclusive and sustainable development for social protection policies in Greece are highlighted. Reforms are proposed for inclusive and sustainable development policies that are likely to contribute to regional and local social protection. The conclusions identify key reform principles that will promote a holistic social protection policy in the context of local sustainable development leaving no one behind.

Anastasios SEPETIS - Professor Assistant, Department of Business Administration, University of West Attica, Athens, Greece. tsepet@uniwa.gr

Algis KRUPAVIÄŒIUS - Professor, Faculty of Public Governance, Mykolas Romeris University, Lithuania. algis.krupavicius@mruni.eu, (Corresponding Author)

Christos Ap. LADIAS - Professor, Regional Science Inquiry Journal ladias@rsijournal.eu

R10, Q01, Q50, G10, G30, H10, H30, H70