The main sectors of economy in Albania continue to improve despite a slowdown in the economic growth in the first half of 2019, Minister of Finance and Economy Anila Denaj said here on Monday.
Denaj made the statement during the plenary session of the Parliament of Albania that is discussing a normative act to review the 2019 state budget.
According to Denaj, among the sectors that witnessed economic growth in the second quarter of 2019 are the extractive and processing industry (15.6 percent), clothing and footwear industry (4.4 percent) as well as the wood and paper production industry (15 percent).
“In this period the majority of the service sectors had a significant growth, ranging from 4.8 to 13.9 percent,” Denaj declared.
Among the sectors that, according to Denaj, had a negative impact in the country’s economy in the second quarter of 2019 are the sectors of electricity, entertainment and recreation.
According to Denaj, in the second quarter of 2019 unemployment in Albania dropped below 12 percent, whereas employment increased by 3.3 percent.
Foreign direct investment in Albania increased by 10 percent in the first quarter and by nearly 20 percent in the second quarter of 2019, Denaj said.
Speaking on the economic indicators during the first nine months of 2019, Denaj said these indicators “prove the sustainability of public finances and fiscal consolidation.”
The minister declared that in January-September 2019, the total revenues are 3.7 percent higher compared to the same period in the previous year, whereas customs and tax revenues increased respectively by 2.5 percent and 4.6 percent year-on-year.
The minister noted that the normative act will solve some of the problems encountered during the implementation of the state budget so far, while maintaining the planned level of key macroeconomic parameters.
The National Institute of Statistics in Albania confirmed that the country’s economic growth in the second quarter of 2019 was 2.3 percent.
