WASHINGTON, February 11, 2022 – Albania’s economic model requires greater investment in people’s skills, firm productivity, sustainability, and public finances, says the new World Bank Country Economic Memorandum (CEM) for Albania, released today.
Albania has been severely impacted by the economic shocks which followed both the 2019 earthquake and the COVID-19 pandemic. Once the ongoing health crisis subsides, the country will need to refocus on its long-term economic objectives, which include building a strong and sustainable growth model to improve citizens’ living standards, thereby helping incentivize people with skills and talent to remain in Albania.
“Through this report, we conduct a fresh analysis of Albania’s development challenges, summarize progress with reform implementation, and offer key recommendations that can help Albania achieve a sustainable, resilient and inclusive economic recovery,” says Emanuel Salinas, Word Bank Country Manager for Albania. “In our recommendations we also focus on what needs to be done to enable the Albanian people to have healthy and productive lives and more and better jobs.”
For more information please visit: https://www.worldbank.org/en/news/press-release/2022/02/11/albania-s-future-growth-requires-stronger-more-sustainable-economic-model