IMF Staff Country Reports

Albania: Recent Economic Developments

April 17, 1997

Preview Citation

Format: Chicago

Albania: Recent Economic Developments, (USA: International Monetary Fund, 1997) accessed November 23, 2024

Summary

This paper describes economic developments in Albania during the 1990s. Macroeconomic performance deteriorated in 1996, as the fiscal stance was weakened ahead of the parliamentary elections in May. Although two large public sector wage increases contributed, it was mainly revenue shortfalls that drove the domestically financed budget deficit to more than 10½ percent of GDP—the highest level since 1992. Reflecting higher demand in the economy, the trade deficit increased from 19½ percent of GDP to 25 percent of GDP, and inflation nearly tripled to 17½ percent.

Subject: Banking, Commercial banks, Economic sectors, External debt, Financial institutions, Foreign exchange, Imports, Labor, Privatization, Wages

Keywords: Banking system, Commercial banks, CR, Europe, Exchange rate, Foreign exchange, Gross domestic product, ISCR, Private sector, Privatization, Savings bank, State enterprise, U.S. dollar, Wages

Publication Details

  • Pages:

    80

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 1997/021

  • Stock No:

    1ALBEA0011997

  • ISBN:

    9781451800609

  • ISSN:

    1934-7685

You May Also Be Interested In...

Sierra Leone: Poverty Reduction and Growth Strategy

November 22, 2024

Sierra Leone: 2024 Article IV Consultation and Request for a 38-Month Arrangement Under the Extended Credit Facility-Press Release; Staff Report; Staff Statement; and Statement by the Executive Director for Sierra Leone

November 22, 2024

Implementing Risk-Based Solvency for Insurers—Lessons from Kenya, Mexico, and South Africa

November 22, 2024

Bilateral Trade in Services and Exchange Rates: Evidence of Dominant Currency Pricing

November 22, 2024