35 years of capitalism in Albania, the challenges of the free market - From transition to the future. Discussions on the economic model
The Liberal Institute "Pashko" organized the forum on economic freedom with the theme "35th Anniversary of Albanian Capitalism: The Free Market Beyond the Crisis", bringing together economic experts, institutional representatives, and academics to reflect on the journey so far and the challenges ahead.
Selami Xhepa President of UET
"Looking at the topic of this meeting, I thought this was a moment to reflect on this 35 years of Albania's transition and some of the points I have to address today are where we started the transition, secondly what were the paradigms on which the transition in Albania was based, thirdly a reflection on what went wrong, and today's geopolitical changes, and the need to build a new paradigm."
Beyond the analysis of the past, the discussions also focused on the concrete challenges of the future, especially in strengthening institutions and developing financial markets.
Altin Tanku - Director of the Research Department at the Bank of Albania
"Faced with challenges, in the next 10 years, we see that we need to focus on 3 main directions. The first direction is to maintain credibility. We need to deepen and develop financial markets, increase financial education. And we need to increase the stability of financial and payment systems."
Meanwhile, government representatives emphasized that the Albanian economy is in a delicate phase, between efforts for formalization and challenges arising from informality.
Enkelejd Musabelliu Deputy Minister of Economy and Innovation
"Albanian business and capitalism are currently at this crossroads. On the one hand, it is developing slowly and with attempts to internationalize, on the other hand, it fluctuates between formalization and informality. Confusing the costs and benefits that come from each of them."
International experts assessed that greater openness to markets and increased economic freedom remain essential for sustainable growth.
Christopher Lingle – American Institute for Economic Research
“If we want a path to prosperity, I think we need to open up the economy to markets. And really, that requires broad freedom for you to choose what you want to try to offer other people, to find out if they value it. Because markets are about discovering value.”
The forum brought to attention the need for further structural reforms and a new development model, at a time when the Albanian economy faces new challenges in an increasingly complex global reality.
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