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Albania Leads Balkan Nation Recovery

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Albania Leads Balkan Nation Recovery

By - Tuesday 26 April 2011

Albania is currently leading the way in terms of economic recovery among the Western Balkan nations. This is according to the latest figures from the EC Economic and Financial Affairs Department's Candidate and Pre-Accession Countries Economic Quarterly Report Q4 2010.

The country has worked hard to reduce its public deficit by an impressive 58 per cent in 2010 from 2009 levels in contrast to other Western Balkan nations.

Indeed, unlike many of its regional neighbours, Albania has weathered the economic crisis and avoided recession with 5.7 per cent GDP growth recorded in the fourth quarter of 2010 giving an average of 4.1 per cent for the year.

"Albania has the key fundamentals in place for a prosperous economy moving forwards with the government forecasting GDP growth to hover around six per cent for 2012-1014 this will no doubt accelerate Albania's accession to the EU," Ravin Maharajah, partner of Lalzit Bay Resort & Spa, said.

And it is this bright future that is attracting savvy investors from not only the UK but Scandinavia, Italy and the Balkans to invest in Albania.

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