Albania: 8.9% GDP Increase

Erind Kurti – Albanian Times

International institutions are optimists with the forecasts of strong growth in 2010 for Albanian economy.

Unicredit Banks research team has forecasted an increase of 8.9% GDP for 2010 with an increase in investments in finance and assets. Further in the report shows an increase in the economy overall and Albanian products increasing in exports.

Albania has hit the record in exports of energy this winter with the heavy rains helping it’s hydro-central stations whilst all of its energy comes from the hydro-central stations whilst many companies are investing in energy sector in Albania and talks are still ongoing between companies and government on building nuclear energy stations.


Shkoder, a city in the north of Albania has its plan drawn for the nuclear station being built and waiting for the go-ahead green light whilst another one is on the way in city of Durres which will be used mainly for export to Italy via underwater link between Albania and Italy in the Adriatic Sea.

Albania is a great place for investment and is one of very few places that is not affected by recession and it had a growth of 5% in 2009 and with forecasts of 8% growth in 2010.




Albanian food and drink products have increased in 2009 and will hit a record high in 2010 which is being helped by the new motorway that was build in 2009 linking Albania’s capital Tirana with Prishtina, Kosova.

Albanian food and drink products are now being exported in Kosova and this is helping Albanians on keeping the prices at the same level for the whole season whilst in the previous years a kg of tomatoes in April was a 1€ whilst you could get it for only 5 cents in July and August. With the new motorway a kg of tomatoes is expected at 1€ from start to end of season. With investments in agriculture Albanian food and drink is at rise, fabrics and industries like mushrooms in the outskirts of cities.

I remember a story about a neighbour of mine, this is some 10 years old now, he brought a full lorry with tomatoes from his land in a village in the north to Tirana, early in the morning at the fruit and vegetable market, and he was first in the market at 4 o’clock having driven from the north. After a very hot day in sun, he had only sold two kilos of tomatoes at 15 cents by the time the market was closing at sunset; he had no choice but crashes them in the street and drives on top with the lorry so his efforts and family’s work wouldn’t go for free! He’s had worked the full day with his family in picking, washing, packing, weighting and transporting for 3 hours will only few hours sleep, just to dirty the outskirts of Tirana. He did not live to this day and see his tomatoes being eaten by Kosovar’s but surely the rest of his family will. Villagers like the one in my story do not need to transport their fruits and vegetable to Tirana or in the markets in the main cities, now is the markets and supermarkets coming to the village to pick them up in hope of better prices and deals.


The motorway has helped also the tourism which Albania has put a lot of efforts to increase the number of tourists entering Albania and making it easier for tourists. A 10 euro entry tax to Albania is now stopped and with Tirana’s new main airport and an increase in the main port of Durres has heavily increased the number of tourists entering the country.




With 5 airports on the way in a country that is best known for it’s warm welcome, in the middle of Europe but still the cheapest, Albania has everything to offer, from ski resorts high in the mountains to hot and sunny virgin beaches, from culture and heritage to charm and modern, Albania is surely the country with the road to the boom.


Government is calling to invest whilst is still early and with a promise that in 5 years you can double your money and my guess is, the government is right, yes Albania is the only country where you can get a 2 bedroom apartment under 50 000 Euros.


Most of us remember the easy money when a country went in transition, we all remember how property prices jumped in Bulgaria and Rumania in a matter of weeks, I remember writing a report in November 2006 and looking at the property prices in the Bulgarian market when an apartment was costing 20 000 Euros in November and was sold in February for 60 000. That’s where Albania is now heading.




Forecast report 2010 that was published yesterday by Unicredit group had Albania at the top of the list with 8.9% GDP increase followed China with 8.6% and India 6.7%. With the steps Albania has taken and learning from the mistakes of neighbouring countries, such as Greece, Albania is in the right path to a Balkan superpower.