Disappointing Eurozone economic growth

The recent data from the European Institution of Statistics show that the economic growth of the Eurozone in the first trimester was twice lower than predicted. According to Eurostat, the European Economy grew with only 0.2% from January to March, compared to the end of the last year, when the predictions were for a growth from 0.4 to 0.5%.

The international news agency Reuters considers the first trimester as a big disappointment for the European economy. But, beyond this, the biggest concern for Albania comes from the negative progress of both economies, which are its main partners.

According to Eurostat, Greece and Italy remain in recession, with dropping production. The production in Greece fell with 1% during the first trimester, compared to the last year, while in Italy it dropped with 0.5%.

Both these countries affect the economy of Albania. Besides being its biggest partners, they share most of the foreign investments and are also the main importers of the labor force.

Eurostat figures show that 2014 started with difficulties and it is most probably such even in the second trimester, since it is predicted that the economic growth for the Eurozone will be at the same level even during April-June.

This situation affects the Albanian economy and the hopes for a quick recovery.

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