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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. Adriatik Kotorri & Blisard Zani, 2025. "Assessing the Dynamics of Nominal and Real Interest Rates in Long-Run: A Comprehensive Analysis of Albanian Interest Rates," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 116-131.
    2. 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.
    3. Elena Harka, 2025. "National and international economic uncertainty, and measures to be taken for sustainable development and digital transformation (Albania case)," Romanian Journal of Economics, Institute of National Economy, vol. 61(2(70)), pages 130-147, December.
    4. Xuecheng Fan & Zeshui Xu & Marinko Skare & Xinxin Wang, 2025. "The impact of COVID-19 on unemployment dynamics: a panel analysis of youth and gender-specific unemployment in European countries," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-24, December.

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    More about this item

    Keywords

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    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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