ICG Research present policy paper “A Review of Property Rights Issues in Albania”
Policy paper “A Review of Property Rights Issues in Albania” supported by the Freedom and Prosperity Program of the Atlantic Council in partnership with Atlas Network aims to analyze the progress made to date in the country’s prolonged legalization process.
Partnership with Fraser Institute to promote economic freedom and Essential Scholars series
ICG Research has been invited to become an Associate Member of the Fraser Institute Global Network for Economic Freedom. In support of the Economic Freedom Hub initiative winner of the Atlas Network Startup Grant, Fraser Institute has given ICG Research the right to share all the content of the Essential Scholars project with Albanian readers and visitors of the Hub. In addition, the center will have the right to promote locally all major initiatives and reports of Fraser Institute.
ICG Research participating in the Work & Study National Fair
With an invitation from the Chamber of Commerce and Industry of Tirana, ICG Research participated in the 14th edition of the Work&Study National Fair., the biggest educational fair in the country with thousands of visitors from all around the country. The event was organized by the Municipality of Tirana, the Chamber of Commerce and Industry, and the Ministry of Education took place at the Palace of Congresses in Tirana on 25-26th April and was visited by flocks of students from graduates, university students from major public and private ones, high schools are young jobseekers. ICG Research used the opportunity to promote the Economic Freedom Hub and extend the outreach to younger ages with interest on knowing more on economics and free economic thinking.
ICG Research presents in Week of Integrity concept on corporate integrity assessment in Albania
ICG Research participate for the first time with its’ own activity in the Week of Integrity, an annual flagship initiative in Albania promoting integrity organized by the International Chamber of Commerce. ICG Research experts team presented a concept note on the importance of corporate integrity in untapped growth potential for enterprises in the country and wider in the region, and the necessity to create frameworks for business integrity assessment to serve public interests by informing and orienting decision-makers and regulators.
The interactive webinar counted more than 50 participants from the business community, researchers, and students from public and private universities.
ICG Research and ICC agreed to join forces in committing to advance further this cause in Albania.
For more information please read the presentation.
IMF projects economic growth of 4.5 percent in 2022 for Albania
In its’ latest Country Report, the International Monetary Fund projects economic growth of 4.5 percent for Albania in 2022 and with an inflation rate of 2.3 percent getting back within the monetary policy target.
As stated in the report, following the 2019 earthquake and the pandemic major impact, headline inflation has risen on account of higher food and energy prices, but core inflation has increased only modestly. The fiscal deficit widened sharply to 6.8 percent of GDP in 2020 and is expected to have remained at that level in 2021. Public debt increased to 77.2 percent of GDP at the end-2020 and is expected to increase further in 2021. The financial system has been stable and liquid and credit flows have continued to support the economy.
IMPF experts foresee that from 2022 onwards, economic activity is expected to remain strong as the impact of the pandemic wanes and international tourism continues to recover, but growth will be tempered by the phasing out of fiscal support and reconstruction and the maturing of the recovery cycle. In the medium-term, growth is projected to converge to its potential of 3.4 percent, a level held back by adverse demographic factors. Uncertainty over the outlook remains high. The emergence of vaccine-resistant variants at the global level or localized outbreaks in Albania, as well as potentially tighter global financial conditions and higher global energy prices, pose important downside risks to the outlook
EU DG-NEAR published its’ 2021 Progress Report for Albania
As every year, European Commission’s Directorate-General for Neighbourhood and Enlargement Negotiations DG-NEAR published in October 2021 the EU Progress Report for Albania. Major attention was dedicated to the importance of Justice Reform implementation and the progress being made in the fight against corruption from the “new justice” structures such as the Specialized Structure Against Corruption and Organized Crime (SPAK) being fully operational and increasing its’ role.
Albanian economy under the EU’s lenses still appears to be moderately prepared in terms of being a functioning and competitive market economy. The latest report considers that the country made some progress and has some level of preparation in its capacity to cope with competitive pressure and market forces within the EU. It has made improvements on energy and transport infrastructure, the use of digital communication, and education outcomes, but significant gaps remain in comparison to its regional and European peers.
Albania’s competitiveness is hindered by a lack of entrepreneurial and technological knowhow, significant levels of informality, unmet investment needs in human and physical capital, and low spending on R&D. Pre-existing and significant gaps in skills and education have probably widened due to COVID-19 related lockdowns and distance learning, which is not accessible to all. Regional integration and exports increased but remained below potential. The lack of product and geographical diversification in Albania’s exports compound its vulnerability to external shocks
For the full report please follow the link