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Ekonomia

The World Bank harsh criticism of the Albanian economy: It should be oriented towards exports and not...

The World Bank harsh criticism of the Albanian economy: It should be oriented

For the manager of the World Bank's office in Albania, Emanuel Salinas, the country's economic model needs transformation, being oriented by exports and the use of natural resources and not by the construction and consumption sectors. During the welcoming speech held at the workshop "Sustainable engineering in 360 degrees" developed in Tirana by the Italian Trade Agency (ITA) in cooperation with the Association of Engineering, Architecture and Technical-Economic Consulting in Italy (OICE), as he positively evaluated the upward trend of the economy and poverty reduction, emphasized that Albania needs a new economic model to increase productivity and jobs.

"If you look at the composition of the GDP, the main weight is occupied by the construction and consumption sectors. For Albania to move from the middle level to the high level of per capita income, a transformation must take place. It needs to shift from low wages and low productivity to higher value-added and more export-oriented production. The focus should be on the use of natural resources to increase productivity and investment. So for the transformation from construction and consumption to happen, the economy must be oriented towards the growth of exports".

The manager of the World Bank office in Albania, Emanuel Salinas, also focused on the problem of the workforce, where according to him, in cooperation with the government, work is being done to increase the quality of education of young people and in the health sector. "As far as the labor force is concerned, we know that in Albania, as in many other countries in the region, a significant part of the human capital is rapidly being lost. Beautiful beaches or mountains are not the source of Albania, its human capital is its source, the talented people of this country, especially the youth.

Their contribution is important for increasing the productivity of the economy and the arrival of foreign companies. But this is something we all together need to do more about. For our part, we are working with the government to increase the quality of education of young people in vocational schools and universities. We are also working in the health sector, as it is very important to create opportunities for the population to stay in Albania.

There are three priorities of the World Bank in Albania: The first is to create jobs, and with high salaries. There are jobs in the construction sector, in the catering sector, but no jobs are offered in other sectors. The second priority is human capital. This is important not only for the country, but also for foreign companies coming to Albania. The third priority is the country's recovery, after the 2019 earthquake, the Covid-19 pandemic or the energy crisis," he asserted.

Holding the forum in Tirana for infrastructure was triggered by the significant development of the last years achieved in this sector and the further growth prospects related to the government's investment programs in view of Albania's future membership in the EU. Among other things, the initiative aimed at the mutual strengthening of cooperation for offering the experience of Italian entrepreneurs to those from Albania and from Kosovo for the adoption of European standards, in engineering designs with ecological sustainability, both for public works and private investments that are being developed in Albania./ Monitor

 

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