The Institution of Statistics has officially confirmed that economy has
entered again in a negative territory, for the third time since the
beginning of the 2009 crisis.
“In the third trimester, there has been a 2.26% drop, compared to the third trimester of 2012. The main comes from the general branches of economy, except for only agriculture”, declared the director of the Institution of Statistics, Gjergj Filipi.
The 2.26 plunge is the deepest since when Albania started calculating the economic growth in trimesters, and is related to the shrinking of production in almost every economic sector.
“The industries have a drop of 4.6%, especially the processing industry, which has a plunge of 7% compared to the same trimester of one year ago. The construction activity in the third trimester 2013 has also marked a drop of 10%, compared to the third trimester of 2012. The commerce-hotel-restaurant group has dropped with 3.4%”, Filipi declared.
This plunge has decreased the total economic growth to 0.4% for this month. It is almost certain that even the minimal objective for closing 2013 with a 1.3% growth is impossible. This makes the year that we left behind the lowest and the most negative point of the Albanian economy in the past two decades, besides 1997.
The third trimester corresponds with the political transition period, July, August and September. After the elections of June, the country was only formally with a government, and this has affected the economic progress. The Institution of Statistics declared that due to the new calculation system that the European Union has recently approved, this institution will start reviewing the national statistics of the past years.
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