Economic growth in Europe and Central Asia (ECA) will be 2.2 per cent in 2017, the strongest growth in six years, and 0.3 percentage points above May’s expectations. According to the World Bank’s latest Regional Economic Update, Migration and Mobility in Europe and Central Asia, ECA economies are showing more rapid growth than previously expected with a GDP almost twice the average growth in the European Union. Continue reading Despite Public Anxieties, Migration is Playing a Key Role in ECA Growth
Earlier this month I had the pleasure of chairing a panel of thought leaders and industry experts at the European Bank for Reconstruction and Development (EBRD) in London. The subject matter was centred on the ICT industry in the Ukraine specifically, and the broader Central and Eastern European (CEE) region in general. Continue reading Is the CEE Region About to Steal the Outsourcing Crown From India?
The consortium constructing the Trans Adriatic Pipeline (TAP) is investing a total of 800 million euros in Albania in 2017-2018, a sum which represents the largest single input of FDI in the country. (FDI for the whole country is approximately 1.5 billion euros). TAP will additionally create job opportunities for Albanian companies during construction. More than 2,800 people are already working directly for the project. Continue reading Trans Adriatic Pipeline Will Fuel Albanian Growth
Switzerland, Singapore and the United States once again occupy the podium places in the World Economic Forum’s (WEF) Global Competitiveness Index. A number of CEE countries rank in the top 50, the highest of which is Estonia (29th), followed by the Czech Republic (31st), Lithuania (35th), Poland (36th) and Azerbaijan (37th). Albania improved its ranking the most, moving up 13 places to 80th. In general, however, all other CEE countries showed clear signs of an economic slowdown. Continue reading Estonia Leading CEE Country in WEF Competitiveness Index
The leader of Albania’s Democratic Party, Lulzim Basha, has accused the country’s new government of being “the result of drug money,” going on to say that prime minister Edi Rama had killed, via June 25th’s elections, an agreement made jointly with the Democrats to enact constitutional and electoral reform. Continue reading Albania’s Economy Booms Despite Political Infighting
The global economy is speeding up but caution is needed. That was the message from leading economists after the International Monetary Fund (IMF) increased its growth forecasts, with global output growth no expected to increase from 3.2 per cent in 2016 to 3.6 per cent this year, and 3.7 per cent in 2018. But the global economy’s recent recovery may not last, despite a pickup in activity in all western countries except the UK. High asset prices, rapid credit growth in China, political turmoil in Catalonia and a cliff-edge Brexit are the primary risks. Continue reading IMF Increases Growth Forecast With Emerging Europe Prominent
The Albanian construction sector is the biggest accelerator of the country’s economy. According to the Bank of Albania, it contributed to economic growth by 1.0 percentage point in Q1 2017. Continue reading Albania’s Construction Sector Supports the Country’s Growth
Parliamentary elections are a good time to evaluate the functioning of democracy in a country such as Albania. Continue reading Albania’s Election Apathy
The inflow of FDI had long been considered the main driver of economic growth in the countries of Central and South-eastern Europe. During the transition to a market economy, FDI provided much-needed capital and knowledge, as well as access to technology and markets. Continue reading Ex-Transition Economies’ FDI Recovery
For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.
Albania boasts rich soil and favourable climatic conditions in the middle of both the Mediterranean and continental zones of Central Europe. This puts Albania in a unique position to grow and harvest a diverse amount of agricultural produce, ranging from fruits and vegetables to and dairy products, to medical and aromatic plants, as well as wheat. Continue reading Albania’s Agribusiness Support Facility – With a Little Help From Your Friends
Interestingly enough, the gas sector once played an important role in Albania and the country was a relatively large gas producer. In 1982, gas production amounted to one billion cubic metres but has now dropped to mere 0.01 billion cubic metres. It is worth noting that Albania and Kosovo are the only countries in the Western Balkan region which are not connected to international natural gas networks. Continue reading Albania’s Gas Master Plan Sets out an Exciting Future