Economic Growth in Albania: Influencing Factors Yesterday, Today and Tomorrow

Abstract

The history of the Albanian economy tells us that we were not aware clearly about the influencing factors (development and limits) to long-term economic growth. In some historical periods is confused current economic situation with the economic perception for the future.According to the annual report of the Bank of Albania, for the years 1980 to 1990, the average economic growth was at 0.9%. The largest economic downturn it is in the year 1990 at a level of -10%. The largest economic growth it is in the year 1989 at a level of 9.8%.For the years 1991 to 2000, the average economic growth was at 1.3%. The largest economic downturn it is in the year 1991 at a level of -28%. The largest economic growth it is in the year 1999 at a level of 13.5%.For the years 2001 to 2011, the average economic growth was at 5.3%. The slowed economic growth it is in the year 2011 at a level of 3.1%. The largest economic growth it is in the year 2001 at a level of 7.9%.Economic growth of past three decades of the Albanian economy is growing at an average 2.5%.Based on the data of the last thirty years (one third of the life of the Albanian state) economy in this paper will be presented in reference to significant economic and political factors that affect economic development.