Economic growth above 4 per cent, highest since 2012 (Video)

Economic growth jumped over four per cent in the second quarter of the year in Albania, confirming that economic activity has strengthened further.

The Statistics Institute reported that national production for the April-June period expanded by 4.06 per cent year-on-year basis led by construction, industry and tourism.

Historical data shows that recovery of the economy continues to gain ground steadily. According to INSTAT, this is the highest economic growth marked in the second quarter since 2012.

In parallel, data shows that the revival of economic activity is broad-based, as production has increased to 9 out of 11 sectors of the economy.

Enhancing 4.06 per cent of the economy for the April-June period follows a 3.94 per cent increase in the first quarter of the year. This means that in total for the first six months, national production in 2017 has expanded by about 4 per cent, a figure higher than IMF expectations, but the government itself.

The data suggests that in addition to improving the environment, economic activity in the first half of the year may also have benefited from public spending during the election campaign.

But despite this effect, INSTAT statistics show that after 9 years, economic growth in Albania returns again to 4 per cent, a figure which, if confirmed in the second six months, seems to eventually separate the Albanian economy from the 2008 global crisis, the deepest the world has experienced since World War II.