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EACEA National Policies Platform:Eurydice
Political and Economic Situation


1.Political,Social and Economic Background and Trends

1.4Political and Economic Situation

Last update: 15 February 2024

Albanian is classified as a middle-income country since 2009. From 1990 onwards, the country has at made enormous strides in establishing a credible, multi-party democracy system and market economy. Before the global financial crisis, Albania was one of the fastest-growing economies in Europe. 

According to ecfin predictions  the COVID 19 pandemic and the ensuing restrictions are set to drag the Albanian economic into recession in 2020 despite the good performance of the agricultural sector and implementation of reconstruction works after the earthquake. Public investment and net exports are expected to support a partial economic recovery in 2021, while uncertainty about international travel and the muted recovery in the EU should affect services exports,

According to INSTAT GDP grouwth in Albania in 2023 ammounted to 3.3%.  

Expenses for education in 2023 as percentage of GDP account to 3.1% of GDP accordingto INSTAT