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An Overview of the Pandemic Impact in the Economy of Albania

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  • Brikena Leka

Abstract

A second strong wave of this global pandemic declared by World Health Organization, is hitting most countries in the world. The situation becomes even more grey if we analyze the economic consequences that the pandemic has caused and what is expected to happen. These consequences will continue at least in the medium term, but possibly in the long run period if we consider the increase of the public debt, and governmental expenses as a response to this pandemic situation. In this paper I will try to highlight what is expected to happen in the Albanian economy, referring GDP growth, unemployment, inflation, interest rates and the situation of the tourism sector. The deterioration of the current situation of pandemic, as a consequence of the second wave happing, will cause a deeper economic recession, so we should prepare for even worse scenarios, compered the ones that are forecasted by World Bank and the National Bank of Albania. The elections that will be held in April 2021 will affect the government expenses and the collection of taxes will be affected with the changes in the fiscal policy, which means much more uncertainties for the near future.

Suggested Citation

  • Brikena Leka, 2020. "An Overview of the Pandemic Impact in the Economy of Albania," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 23(78), pages 2-12, December,.
    • Handle: RePEc:rej:journl:v:23:y:2020:i:78:p:2-12
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    References listed on IDEAS

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    Cited by:

    1. Fisayo Fagbemi & Tolulope T. Osinubi & Olufemi S. Olatunde, 2022. "COVID-19 and Unemployment: Showcasing Sub-Saharan African Experience," Jindal Journal of Business Research, , vol. 11(1), pages 24-33, June.

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    More about this item

    Keywords

    pandemic; GDP growth; inflation; unemployment; tourism;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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