Second worst living standard increase

According to INSTAT, the economy on that year increased with 3.3%, followed by Kosovo with 2.9% and Poland with 1.6%. Even after this year, the Albanian Economy has kept a positive rate by not falling officially in a recession. This was the main argument for the government to deny the crisis.

A chart based on the recent World Bank data shows how the living standard has increased in the region after 2009. The average revenue of the Albanian citizens, based on the buying power, has increased with 293 USD.

This is the lowest in Balkan, except for Macedonia. All other Balkan economies had it from 300-820, according to the World Bank, without including more dynamic economies such as Turkey and Poland that are leading the economic growth charts in Europe.

The per capita revenues not only are not growing as fast as in other countries, but Albanians are falling behind their neighbours. These are factual data measured in the past years. The assessments for the years to come are even gloomier. World Bank assesses that Albania’s economic growth in 2012 was a minimal of 0.8%.

According to the IMF, the growth of the Albanian economy is expected to grow with 1-1.5% less percentage points than the regional average. Compared to the two neighbouring economies of Italy and Greece, which have been in recession for years now, the economy has lost resistance by slowing the pace down dramatically. Recent data shows that the crisis in the Albanian economy simply arrived a bit later than the other countries, and according to IMF, Albania is the country that will feel the crisis more, after Kosovo.

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