GDP’s entertainment section shrinking affects Albania’s annual economic growth

The latest data of the Institute of Statistics on Albania’s Gross Domestic Product in the second quarter of the year confirm a tendency for this year: entertainment of Albanians is decreasing compared to last year.

One of the main branches of the economy, the biggest decline in the second quarter was reported in art, entertainment and recreation, down by 4.57%.

Moreover, this category has contributed negatively to the economic growth, which this quarter went to the lowest level in five years.

Had Albanians spent for fun, not more but as much as a year ago, economic growth would have been at least 10 percentage points higher.

The trend is the same as that of the first quarter of the year, namely falling.

During the first three months of the year, this branch of the economy shrank compared to the first three months of 2016, with 0.39%, contributing negatively to the country’s economic growth.

This branch of the economy, namely art, entertainment and recreation is also closely related to the welfare of the population, which means that the shrinking of this branch of economy signals a shrinking of welfare.

SCAN

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