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REPUBLIC OF ALBANIA MINISTRY OF ECONOMY, TRADE AND ENRGY

Explore key macro-economic indicators and trends in Albania’s economy in 2007, including GDP growth, foreign trade, FDI, employment, migration impacts, and strategies for economic development.

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REPUBLIC OF ALBANIA MINISTRY OF ECONOMY, TRADE AND ENRGY

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  1. REPUBLIC OF ALBANIA MINISTRY OF ECONOMY, TRADE AND ENRGY

  2. A L B A N I A • Population 3,619,778 habitans • Total area 28,748 sq km • Population growth rate:0.538% • Birth rate:15.22 births/1,000 population • Death rate:5.44 deaths/1,000 population • Net migration rate: -4.41 migrant(s)/1,000 population. • Infant mortality rate:19.31 deaths/1,000 live births • Total fertility rate: 2.02 children born/woman • Religions:Muslim 70%, Albanian Orthodox 20%, Roman Catholic 10%

  3. ALBANIA Economy DevelopmentMacro-Economic Indicator 2007 • Albania economy for the fiscal year 2007 has recorded a sustainable growth and in acordance with foreseen. • Real aconomik growth rate has rezulted at a level of 6 %. • Gross domestic production in nominal terms has resulted at 997 bilion leke, and real GDP is estimated at 945.52 bilion leke. • Gros domestik production per capita for fiscal year 2007 is estimated at 3 402 USD per capita or same 9.3 % more than in previous year. • Avarage rate of yearly inflation for 2007 was 2.9% towards the 3% predicted. • Economic crediting in country level has resulted on high level at 48.5 % of GDP. The credit ratio of economy refer the DGP has recorded an extention by 8.8%

  4. Foreing Trade • Development of external sector has follow an growth tendency. • Exports for year 2007 has registered a growth at 29%, meanwhile the imports are increased at 18%. • Trade deficit in Albania still remain in high level at 28% of GDP • Covering ration (export/import) reached at 23% • Main partner country from EU countries still remain Italy and Greece. Importes and exports (from this countrie) are respectively 35% and 13%.

  5. Foreign Direct Investment(FDI) • Analysing the FDI for 2007 rezulted that FDI for 2007are increased by450-470 milion Euro towords 260 milion euro/year in previous year. • FDI for year 2007 has registered an increase nearly 70% compare to 2006. • In the energetic the development are optimistic, not only for the achieved concenssion, but also for the expected one to be realized in 2008.

  6. Employment • Employment remain still one of the main priority of government. • Unemployment rate has sign a decrease in average 0.5-1 %/year. • Unemployment rate for 2007 is estimated 13.1% decreasing by 0.65 compare with previous year. • Employment on industrial sector was increased by 7%,mainly by increasing the employment on

  7. Emploiment (continue) • The sectorial strategy on employment seeks to improve the employment service system and vocational education and reduction of unemployment. The main objectives are: • Creating opportunities for employment, through economic growth. • Implementation of efficient programs for the development of the labor market through development of information network, vocational traing, and fiscal incentives. • The promotion of employment programs will be realised in cooperation of the civil society, business organizations and development of the SME sector. • The government is comitted to undertake a comprehensive reform in education system from the state budget and in cooperation with international financial organizations, and including the contribution of the private sector. • The public expenses for education will cover 5% of the GDP share for the 2009 year.

  8. Migration and impacts on economy. • Over more than a decade up to 20% of population of Albania has migrated. • The economic impact data of emigration are as follow: • Based on data, the contribution of the remittances during 10years is 15% of Albania GDP. • The contribution of the remittance in the commercial balance during last 10 years is estimated to be 58.8%

  9. National Strategy on Migration and actions taken from Albania Government. • The Albania Government has envisage the adoption of National Strategy on Migration. • This strategy complements other interrelated policies such as those cancerning employmet and socio-economic development especially regard to remittance manegement. • Also for implementation of strategy is compile and action-plan. • This actin –Plan details for every of 66 measures agreed upon all the necessary elements for its implementation(objectives,activities required, politically responsible body etc) • The albania government has decided to create a new agency covering migration policy in a very broad sense, as one of a first step for implementation of Action-Plan.

  10. Reduction of the Informal Economy for Year 2007 • There have been colected about 38.8 miliard lek contribution or 2 milliard Albania leke more than the year 2006 • The level of the employers’amount of social contribution is decreased by 33%. • The insurance scheme is increased with 40 thousand new contributors.

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