Economic growth at 1.7%

The Institution of Statistics reported that the National Production increased with 1.7, a minimal growth compared to the same period of one year ago. Numbers show that this minimal growth has been favored by the act that the growth in the first trimester of 2012 was negative, and this lowers the comparison basis.

The Institution of Statistics says that the economic growth for this trimester was led by the industrial production with 14.8% and post-telecommunication with 15.4%. There has been positive growth in agriculture and other services, despite being with a low pace at 2.1 and 1.3%.

The three other economic branches have kept shrinking. According to Institution of Statistics, construction has reduced with 4.8%, commerce with 2.1% and transportation with 2.9%. Preliminary data show that this year will be difficult for economy, which is already in its lowest point of history. Albania’s biggest economic partner, the Eurozone, is still shrinking in recession, with production growth in this year dropping with 0.2%.

Beside the negative pressure from neighboring countries, economy this year also faces internal problems. Our country is in an official credit crisis, and the economic growth is expected to be stopped even by the negative contribution of the public sector, especially in the second half of this year, with the government stopping every spending in order to keep the finances under control.

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