Unraveling Albania’s economic enigma:

Is Albania turning to a guardian of economic stability?

by Grigorios Patsakis

   This article scrutinizes the economic trajectory of Albania in the second decade of the 21st century. It addresses the pivotal question of whether recent economic progress marks the initiation of a long-term stability plan or is built on unstable foundations. While comparing favorably with its past, Albania’s economic divergence from Western nations dictates the need to intensify its efforts to improve its economic performance. The analysis unfolds in two parts, presenting a concise economic history followed by an examination of the prosperous 2022–2023 period to discern if it signifies a stable foundation for Albania’s economy.

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Picture: ‘Bank of Albania’ by Liridon under a CC BY-SA 4.0 License.

The opinions expressed in this publication are those of the author. They do not purport to reflect the opinions or views of the Institute of International Relations or its Researchers.