Economic measures, compared to Europe / Vienna Institute: Package as much as 1.2% of GDP, the second highest rate in the region

The Vienna Institute for International Economic Studies has assessed all the countries of Central, Eastern and Southeastern Europe in terms of the economic measures that have been taken to cope with the Covid-19 emergency.

Among the 23 countries analyzed, for 21 of them there is a concrete assessment of the measures taken, in relation to gross domestic product. Data are until March 30. According to the Vienna Institute for International Economic Studies, the fiscal measures taken by the Albanian government to help people and businesses are fixed at about ALL 22 billion, which translates to 1.2% of the country’s gross domestic product.

But how is this rate compared to other countries analyzed?

Compared to the Western Balkans region, Albania ranks second, after Montenegro, with 1.4% of GDP, while Serbia with 0.4% of GDP, Northern Macedonia with 0.5%, Kosovo with 0.4% and Bosnia and Herzegovina. with only 0.3% of GDP fiscal measures to cope with the crisis, are more convincingly behind than our country.

Outside the region, only Russia with 1% of GDP and Hungary with 0.9% have injected a softer economic package than Albania in relation to the country’s economy. For all other countries, the rate rises to 7.4% in the case of Croatia, which is a country with a high impact on tourism in the economy, and the consequences of global pandemics were expected to be drastic in the country.

Even for Albania, a number of institutions, including the Vienna Institute for International Economic Studies themselves, have raised the alarm that tourism will bring a stalemate in the economy, and therefore should be supported.

Government fiscal measures in relation to GDP in the region

• Montenegro 1.4% of GDP
• Albania 1.2% of GDP
• Northern Macedonia 0.5% of GDP
• Kosovo 0.4% of GDP
• Serbia 0.4% of GDP
• Bosnia and Herzegovina 0.3% of GDP

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.