Latest News for Albania Economy 2011

30 Aprile 2012

Albania posted economic growth for 2011 despite the ongoing economic crisis in Greece, Italy, the two main economic partners of Albania.

Albania posted again growth of GDP for 2011- 3.1%. Albanians have shown signs of tightening their consumption. This goes in same line with increasing of savings during 2011.

Fiscal policies were oriented towards further consolidation of fiscal indicators to maintain the public debt within the target limits. Budget deficit was estimated at 3.5% of GDP which marks 0.5% increase compared to 2010.

Albanian government revenues increased by 1.8%. They were conditioned by a slowdown of the economic activity. Due to this fact Albanian government was very cautious with government spending which grew by only 3.7%.

Source: Annual Report of Bank of Albania http://www.bankofalbania.org

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