Albania: Restoring Growth and Improving Prosperity
Over the past two decades, Albania has transformed from one of the poorest countries in Europe to an upper-middle-income country, reducing poverty from 25.4% in 2002 to 14.3% in 2012. The global financial crisis halted growth, slowed poverty reduction, and reduced employment opportunities. Albania is implementing macro-fiscal and structural reforms to revitalize growth and job creation, while advancing the European Union integration agenda. Under the Fiscal Year 2015-19 Country Partnership Framework, World Bank engagement is expected to expand to US$ 1.2 billion in support of Albania’s development agenda.
Transition Reform
Robust economic growth is continuing. GDP grew by 3.8 per cent in 2017, driven equally by private consumption and investment. Monetary policy remains accommodative, while fiscal deficits have been reduced.
Doing Business in Albania
Doing Business captures several important dimensions of the regulatory environment as it applies to local firms. It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity…
Economic Reform Programme
The path towards economic stability and fiscal consolidation, in accordance with the European integration goals and coupled with internal demand for sustainable growth, has shaped the economic model and the reforms undertaken by the Government of Albania.