Political and Economic Conditions of Albania Sample Clauses

Political and Economic Conditions of Albania. Located in Balkan Peninsula, central Europe, Albania shares borders with Greece, the Former Yugoslav Republic of Macedonia, Montenegro and the Republic of Kosovo. Its land area is about 1.5 times larger than the size of Japan's Shikoku, with a population of 3.1 million. With an income level (per capita GNI) standing at US$2,960 (2006, the World Bank), Albania is classified as a middle-income developing country eligible for the Japanese ODA loans. The country's economic activities became almost paralyzed after rioters angered by pyramid schemes[1] attacked and destroyed factories and shops in 1997. However, with the support of the World Bank and IMF, Albania has been making efforts toward economic recovery. In recent years, the country registered a robust economic growth of 6.7% (2004), 5.5% (2005) and 5.0% (2006), with inflation remaining stable at 2.9% (2004), 2.3% (2005) and 2.3% (2006). The Board of Directors of the IMF gave high marks to Albania's macroeconomic performance for the past two years, by saying "Remarkable achievement in light of the regional and international standards," on one hand, while noting the persistent poverty in the country on the other. There is an urgent need to tackle poverty reduction.
Sample 1
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