Albania still lacks a clear property rights system, particularly for land tenure. Security of land rights remains a problem in coastal areas where there is potential for tourism development.
Albania
overall score65.1
world rank57
Quick Facts
- Population:
- 3.2 million
- GDP (PPP):
- $23.9 billion
- 3.5% growth
- 5.1% 5-year compound annual growth
- $7,453 per capita
- Unemployment:
- 13.5%
- Inflation (CPI):
- 3.6%
- FDI Inflow:
- $1.1 billion
Albania’s economic freedom score is 65.1, making its economy the 57th freest in the 2012 Index. Its level of economic freedom increased by 1.1 points during the past year, due primarily to improvements in freedom from corruption and business freedom. Albania is ranked 26th freest among the 43 countries in the Europe region, and its overall score is above the world average.
Albania’s foundations of economic freedom are undermined by poor protection of property rights and pervasive corruption. The low property rights score is largely a result of political interference in the judiciary. The government has maintained a competitive tax environment with a flat rate of 10 percent. Expansionary government spending has resulted in budget deficits in recent years, but the deficits have been narrowing.
Significant diversification of the economic base has increased economic dynamism, and the country has experienced strong economic growth that has reduced poverty and unemployment rates. The efficiency of the regulatory system has been facilitated by a broad simplification of business procedures. Although foreign direct investment has increased in recent years, levels still remain among the lowest in the region.
Albania still lacks a clear property rights system, particularly for land tenure. Security of land rights remains a problem in coastal areas where there is potential for tourism development. Although significant reforms of the legal system are underway, the courts are subject to political pressures and corruption. Protection of intellectual property rights is weak. Albania is a major transit country for human trafficking and illegal arms and narcotics.
Albania’s foundations of economic freedom are undermined by poor protection of property rights and pervasive corruption. The low property rights score is largely a result of political interference in the judiciary. The government has maintained a competitive tax environment with a flat rate of 10 percent. Expansionary government spending has resulted in budget deficits in recent years, but the deficits have been narrowing.
Significant diversification of the economic base has increased economic dynamism, and the country has experienced strong economic growth that has reduced poverty and unemployment rates. The efficiency of the regulatory system has been facilitated by a broad simplification of business procedures. Although foreign direct investment has increased in recent years, levels still remain among the lowest in the region.
le of LawView Methodology
Property Rights 35.0 Create a Graph using this measurement
Freedom From Corruption 33.0 Create a Graph using this measurement
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