TIRANA, Sept 30 /ATA/ Minister of Finance and Economy, Delina Ibrahimaj, stated on Thursday that the Albanian economy has continued its recovery offsetting the negative effects of pandemic-induced disruptions.
“In the second quarter of 2021, the economy recorded a growth of about 18%. This figure is a positive signal for a sustainable progress in the future, which makes us confident that we are on the right track to follow through on implementation of reforms and policies set out in the ambitious program unveiled by the government. Economic growth in the first quarter of the year was 5.5%, bringing the average annual economic growth rate for the first half of the year to 11.7%, which is the highest growth rate in the region,” Ibrahimaj said.
According to minister Ibrahimaj, the expansion of economic activity has been broad based, driven by the good performance of the private sector (final consumption of the population) and the contribution of the public sector (final consumption of the government) in line with successful measures taken by the government.
The Minister stressed that developments by sectors of the economy are indicative of the highest contribution of the industry, energy and water, underpinned by the positive performance of electricity, as well as the extraction and processing industry (oil and chromium).
According to her, the construction sector has also made a positive contribution, reflecting the increase in public and private investment.
The minister said that agriculture has been the only sector with negative contribution.
The price raise in this sector has not offset the increase in volumes. But she said that this sector fared well throughout 2020.
“Budget support and government measures to manage the aforementioned crises are clearly spilling over into the positive contribution of various sectors to this performance, ensuring broad-based economic growth with a direct impact on the welfare of citizens,” Ibrahimaj said.
