Albania’s Economic Growth Slows Down

Highway construction in northern Albania | Photo by : Besar Likmeta

“GDP grew 0.5 per cent in the second quarter of 2011, compared with the second quarter of 2010, while growth was 1.7 per cent slower than in the first quarter of 2011,” INSTAT said on December 30.

The sectors hit hardest were industry and telecommunications, with a decline of 8.2 per cent and 2.1 per cent, respectively.

INSTAT has published quarterly data on economic growth since the third semester of 2008.

Since then, positive preliminary estimates have often been revised to reveal downward trends, prompting discussions about the credibility of preliminary government estimates. Some experts have complained that positive forecasts are given because of political pressure.