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The economy of Albania went through a process of transition from a centralized economy to a market-based economy on the principles of the free market. Albania's economy is based on the service (54.1%), agriculture (21.7%), and industrial (24.2%) sectors. [ 3 ]
The gross domestic product (GDP) of the counties of Albania varies from one county to another as the economic development of Albania varies between the country's geographic regions reflecting historic developments, infrastructure available, especially routes of transportation, and diverse geographic setting of various parts of the country.
Albania is a developing country with an upper-middle income economy driven by the service sector, with manufacturing and tourism also playing significant roles. [9] After the dissolution of its communist system the country shifted from centralised planning to an open market economy . [ 10 ]
Albania passed measures totalling $370 million in its budget on Friday to soften the blow from the coronavirus crisis, including $25 million for the health sector, which is expected to deal with ...
Agriculture in Albania is still a significant sector of the economy of Albania, which contributes to 22.5% of the country's GDP. [1] The country spans 28,748 square kilometres (11,100 square miles) of which 24% is agricultural land, 36% forest land, 15% pasture and meadow and 25% urban areas including lakes, waterways, unused rocky and mountain land. [2]
The 1997 rebellion in Albania was in large part triggered by the failure of multiple pyramid schemes.These schemes, which grew to an unprecedented scale relative to the country's economy, led to many Albanians losing their money and property, culminating in widespread protests across Albania that eventually escalated into a nation-wide rebellion.
Economy of Albania-related lists (1 C, 2 P) B. Business organizations based in Albania (2 C, 2 P) Albanian businesspeople (2 C, 17 P) C. Companies of Albania (4 C)
The Ministry of Finances and Economy (Albanian: Ministria e Financave dhe Ekonomisë) is a department of the Albanian Government, responsible for matters relating to economic policy, the central government budget, taxes, banking, security and insurance, international economic work, central, regional and local government.