In 2008, Albania marked the best result in the corruption index, which
is measured by Transparency International. The indicator was improved
from 2.9 that it was in 2007, to 3.4 in 2008, and the country went 20
spots up in international ranking.
On the same time, the economic growth marked the highest level in the decade, to 7.5%, which was the last golden month for the Albanian economy. After that year, both indicators deteriorated, corruption increased and the economic growth shrank.
Corruption is not the only factor that defines the economic growth. In 2008, the world had not entered the crisis yet and the international economic environment was more favourable.
But economists have proven that both indicators are strongly related to each other. The International Monetary Fund report notes that the corruption stops the economic growth through a series of channels. According to IMF, it hampers private investigations, blocks reforms and eats out the revenues in the state budget by misusing the public’s money in projects that serve only to the economic interests of some given groups.
This conclusion is not only for Albania. The chart based on the World Bank data and transparency international combines the indicator of per capita revenues and corruption in some economies of the world. The conclusion is the same. High corruption levels bring poverty.
On top of the lists are the richest economies of the world, such as Denmark, Norway and Switzerland, while Albania and the other poor countries of the region are in the bottom.
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