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Tourism and construction along with property sales are not enough! Albania needs to surpass itself, at least in one direction... that of the economic model. If this does not happen, then the International Monetary Fund predicts that at least until 2029, growth will not exceed 3.5 percent.
"What is now required is what is known as 'qualitative economic growth.' Qualitative economic growth means that the contribution to economic growth comes from high-performance sectors such as industrial sectors with modern technology, financial and banking sectors, industry, etc.," Adrian Civici, an economic expert, told A2 CNN .
With the country, due to the policies it has pursued, at risk of building a ceiling over its own head that does not allow it to grow any further, there is very little room for optimism for greater prosperity.
"Albania, along with all developing countries, needs to have economic growth of at least 5.8 percent to boost wages and living standards ," says Civici.
More optimistic are the expectations regarding price stability. After almost 3 years of crisis, inflation according to the International Monetary Fund will remain within the desired targets in the next 5 years. However, even this scenario is jeopardized by the developments taking place in the world.
"An escalation of the conflict in the Middle East would repeat what happened after the Russia-Ukraine armed conflict. Market destabilization and the return of waves of inflation all over the world, including Albania," explains Civici.
In its latest report, which analyzes the economies of developing countries in particular, the IMF expects global economic growth to be stable but slow. In the Western Balkans, Albania is expected to have better economic performance only than Bosnia and Herzegovina and North Macedonia.
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