IMF ranks poorest countries, woe over which position Kosovo, Albania are in

Even nearly three decades after crossing the market economy, Albanians, who live in a blessed country with abundant beauty and natural wealth, continue to be among Europe's poorest.

Statistics of the International Monetary Fund (FMN), updated in the “Global Economic Outlook October 2019” show that income per capita of Albanians was $5,732 for 2019, positioning us in the world's 102nd place out of 192 countries at levels similar to Iraq, Paraguay, Lebanon, Libya, etc.

In Europe, Albania is one of the lowest per capita income countries, and it is passed only by Kosovo (4,442 dollars per capita, instead of 111) and countries of the former Soviet Union like Ukraine (25th), Moldova (128).

Of the countries in the region, the richest are Montenegro's neighbours, with per capita income of $8,703, or 62% higher than that of Albanians (country 72). Next comes Serbia, instead of $88,398 per capita, North Macedonia (6,096 dollars instead of 95), Bosnia (Ze 97)

IMF data refers to that even a decade ago Albania was unchanged instead of 102, in an indication that the country's economic growth has failed to be higher than its neighbours, or that it has not produced prosperity for its citizens (according to the so-called convergence process, lower income countries must grow faster in order to capture the European Union's average).

Today, European Union countries have an average per capita income of $38,000, or nearly 7 times higher than that of Albanians, according to IMF figures. In the world, Luxembourg heads (113,000, mostly because of foreign property, followed by Switzerland (83,717 USD), Macao SAR (81,152 USD), Norway (77,975 USD), Ireland (77,771 USD), Qatar (69,688 USD), Iceland (67,037 USD), United States of America (65,112 USD), Singapore (63,987 USD).

International Institutions brought down forecast for economic growth

Hopes for more income have waned, as all international institutions have lowered forecasts for the country's economic growth in 2019. The IMF expects the country to grow by 3% on average, according to the October Global Economic Mirror, up from 3.7% expected in April.

The European Bank for Reconstruction and Development (BERZH) expects Albania to grow by 2.8 % this year, reviewing it down by 1.1 percentage points compared to the May report. The World Bank expects economic expansion at 2.9% for this year.