Foreign assistance and humanitarian aid also supported the recovery. Most agricultural land was privatized in 1992, substantially improving peasant incomes. Albania's limited industrial sector, now less than one-sixth of GDP, continued to decline in 1994. A sharp fall in chromium prices reduced hard currency receipts from the mining sector. Large segments of the population, especially those living in urban areas, continue to depend on humanitarian aid to meet basic food requirements.
Unemployment remains a severe problem accounting for approximately one-fifth of the work force.
Growth is expected to continue in 1995, but could falter if Albania becomes involved in the conflict in the former Yugoslavia, workers' remittances from Greece are reduced, or foreign assistance declines. All Rights Reserved. The information herein was obtained from sources which The Emerging Markets Companion, Inc. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities. Please read our full disclaimer .