World Bank Albania Snapshot

Since the 2008–09 global financial crisis, economic growth in Albania has remained subdued. After a precrisis decade with a 6 percent average growth rate, average growth fell to 2.4 percent between 2009 and 2013. The crisis, originally spreading through financial and current account channels, hit harder those sectors of the economy that had the highest contribution to growth, in particular, the construction sector. The crisis unveiled a number of vulnerabilities that had previously built up in the public, financial, and external sectors.

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