Instat: Second trimester, economic drop
06/10/2014 00:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
After two months of growth, the economy has slipped once again in
negative territory. The Institution of Statistics announced that the GDP
dropped with 0.61% as compared to the past year, and the main reason
was the construction sector.
“The main contribution for this drop was given by the construction sector, followed by the transportation and industry sectors”, declared the INSTAT Director, Gjergj Filipi.
The other sectors, such as services, agriculture and trade, had a positive growth that wasn’t enough to compensate the strong drop in the transportation sector, especially the construction one that reflects the high spending of the governing in the past year and their drop this year.
“This is not unexpected, because the second trimester of 2013 was unusual in its intensity”, Filipi declared.
According to INSTAT, the drop of the economic growth in the second trimester is due to the fact that the second trimester of the last year had an unusual increase, dictated by the governing spending before the elections.
“This is the highest trimester, the second of 2013 for the economic performance, since the first trimester of 2009. This second trimester of 2014 needs to be compared with the peak of the second trimester of 2013. As result, the annual rhythm brings for comparison a trimester with an unusual progress from the past year, that why it seems lower this year”, Filipi declared.
Despite these negative figures, INSTAT says that the economy is growing.
“The Albanian economy is stabilizing with modest growth”, Filipi declared.
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