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Albania's GDP grows 3.21% in Q2, PPP ranking high

Staff Writer |
The gross domestic product (GDP) of Albania registered annual growth of 3.21 percent in the second quarter of 2016 compared to the same quarter of 2015, the Albanian institute of statistics (INSTAT) said.

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On a quarterly basis, Albania's GDP increased by 0.91 percent in Q2 compared to Q1, 2016.

According to INSTAT, the GDP growth in Q2 was mainly driven by the increased performance in sectors such as industry, electricity and water.

However, the extracting industry continued to register a negative performance, decreasing by 18.07 percent compared with the second quarter of 2015.

Construction activity increased by 1.81 percent on annual basis while compared to previous quarter it increased by 3.64 percent.

The group of trade, hotels and restaurants and transport went up by 4.98 percent in the second quarter of 2016 compared to the same quarter of 2015 while on quarterly basis, it increased by 1.34 percent.

Albania ranked 14 out of 82 economies in the world in terms of public private partnerships (PPPs), the World Bank office announced here Thursday.

Benchmarking PPP Procurement 2017 presented an analysis of Albania in four areas, with the country scoring 67 (out of 100) points for PPP project preparation, 78 points for procurement, 75 points for management of unsolicited PPP proposals, and 55 points for the contract management of PPPs, the World Bank office informed in a press release.

The economies at the top of the range -- with a score approaching 100 -- are considered to have a regulatory framework and practices that closely align with internationally recognized good practices, it said.

Albania was better ranked than other countries in the region, namely, Bosnia and Herzegovina, Bulgaria, and Romania, regarding two main stages of the PPP project cycle: preparation and management of unsolicited proposals, according to the report.

The World Bank said the benchmarking PPP procurement scores by area and income-level group.

The non-performing loans in the Albanian banking system continue the upward trajectory, hitting a new high level in August 2016, data from the Bank of Albania showed Thursday.

The Bank of Albania's data confirmed that non-performing loans reached at the level of 21.44 percent, the highest level since May of 2015.

The non-performing loans increased by 0.29 percentage points on monthly basis what has raised concerns among the Albanian economy experts.

The average number of registered unemployed jobseekers was around 124,000 during the second quarter of 2016, while the registered unemployment rate for this quarter was 10.7 percent, the Albanian Institute of Statistics said Thursday.

According to official data, the number of registered unemployed jobseekers in the second quarter 2016 was 17.8 percent lower when compared to the corresponding quarter of previous year while this indicator decreased by 10.9 percent compared to the first quarter 2016.

Meantime, only around 4.7 percent of registered jobless people received an unemployment benefit, as INSTAT said.


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