INSTAT: Economic growth, 0.5%

31/12/2011 00:00

The Institution of Statistics has officially confirmed that the economic
growth has fallen in the minimal levels and that Albania has entered in
an economic stagnation.

According to INSTAT, the economic growth for the second trimester of 2011 is only 0.5%, compared to the same period of one year ago. Compared with the first trimester of this year, the National Production has fallen with 1.7%. Industry, post-communication and construction are the branches that have suffered the deepest plunge, compared to one year ago.

These sectors, according to the figures published by INSTAT, have decreased respectively with 8.5% in industry, communication with 2.1%, and construction with 1.7%. According to INSTAT, the agriculture has increased with 3.4%, compared to 2010.

Same as the trade, with 0.3%, the plunge of the economic growth in these levels fades away the hopes that the Albanian economy will grow with 3.9%, as officially declared by the government.

Besides the slow growth of the well being, the decrease of the economic growth destabilizes the public finances, which show that if the economic growth for 2011 will come down to 2%, Albania will officially cross the legal limit of the debt, with 60% of the GDP.

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