Another international report notes that the economic freedom indicators for Albania have deteriorated.
Heritage Foundation ranks Albania 66th among 178 countries, with 65.2 points. Albania has lost 1.7 points compared to one year ago due to issues with property rights and the efficiency of the judicial system.
Albania is ranked 35th among 45 Euopean countries and its result is below the average of the region, left behind by North Macedonia, Serbia and Kosovo.
Albania’s economic freedom grew in 2020 to only deteriorate in Index of 2021. Despite the drop, the report notes that the government has kept under control both the budget deficit and public debt.
In order to progress with its EU integration process, Albania must reinforce rule of law institutions and improve its results on property rights, judicial efficiency and the government’s integrity.
The Heritage Foundation has taken into account the COVID-19 influence. 882 people have died by the pandemic in Albania since December 1st, 2020, while the country’s economy foresees a 7.5% slowdown.
The Heritage Index is published each year and calculates the direct connections between market freedom, welfare, and economic prosperity.