Economic crisis, Albania among the mostly affected

But what are the reasons that stand behind this negative record, when Albania has been among the countries with the highest economic growth in Balkan for several years during this crisis?

The answer comes from the World Bank data, which show what has happened with the developing economies in Europe and Central Asia in the last years. For the period 2010-2012, Albania has had an average economic growth of 2.7%.

While this is one of the highest indicators for Balkan, compared to the Baltic and Asian countries, Albania’s economic growth is two to three times lower. Balkan has turned into the region that has been mostly affected by the crisis, challenging the Eurozone itself, which is the source.

According to the World Bank, the average growth of the Balkan economies has been almost equal to the Eurozone, while the other economies are growing much faster. These are factic figures measured for the recent years. The predictions for the future is much darker.

In 2013, the World Bank assesses that the Albanian economy will grow with 1.6%, while for the regional economies it will vary from 2.5 to 5%. Since 2009, the Albanian government has been denying the crisis by using this exact argument, the fact that Albania is ranked among the countries with the highest economic growth in Balkan. But the World Bank figures show that in fact Albania is among the mostly affected.

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