Slowdown of the economic growth
04/10/2013 00:00
Experts condemn the destruction of the Prespa e Vogël lake by burning of the reeds 16/11 21:14
The Institution of Statistics announced that the economic growth slowed
down during the second trimester, saying that the Gross Domestic Product
for April-June grew with only 1.1% of the annual basis, 1.8% of which
was the figure of the first trimester.
The Institution of Statistics says that the slowdown was caused by the shrinking of the economic activity in transportation with 5.3%; post-communication with 4.6%; trade and services with 2.8% and 0.4%. The only three growing sectors are agriculture and industry.
According to the Institution of Statistics, construction has increased with 16% during the second trimester, compared to one year ago, while the industrial sector increased with 1.3%.
The economy had a good progress during the first three months of this year. The national production increased with 1.8%, compared to the last year. Due to the slowdown in the second trimester, the economic growth in six months, as total, has gone to 1.44%.
The economic slowdown coincides with the time when the past government widened the fiscal stimulus. From April to June, the Albanian government invested in economy twice more than in the first trimester. But again, the fiscal expansion of the public sector has been unable to stop the economic slowdown in general, due to the deepened crisis at the private sector.
The International Monetary Fund and the Albanian government say that the economic growth for this year will be from 1.7% to 1.9%, and it remains in lower levels in the past decades.
Top Channel
