"Albania stronger economically and closer to the EU"/Malaj: State Department and EC reports confirm progress
The Minister of Finance, Petrit Malaj, stated today in Parliament that the US Department of State's report on the investment climate 2025 and the European Commission's Progress Report confirm Albania's progress in the economy, fiscal administration and European integration.
During his speech, Malaj emphasized that the Albanian economy grew by about 4% during 2024, while inflation dropped to 2.2%, within the Bank of Albania's target. He also highlighted the reduction of public debt from 75% of GDP in 2021 to about 55% in 2024, describing this as a result of fiscal discipline and careful management of public finances.
The Minister also noted the record growth in Foreign Direct Investment, which reached $1.7 billion in 2024, while the total stock of foreign investment reached about $16.7 billion.
Speaking about the challenges, Malaj acknowledged that the reports highlight the need to strengthen the fight against informality and money laundering, but stressed that Albania has made significant progress in this regard through fiscalization, digitalization of tax and customs services, and strengthening fiscal administration.
He also brought to attention the positive assessments of international organizations such as FATF and MONEYVAL, emphasizing that Albania has been off the "gray list" since 2023 and has achieved over 95% compliance with international recommendations against money laundering.
Regarding the European Commission report, the minister emphasized that Albania is considered a country with a "good level of preparation in the development of a functional market economy", while highlighting progress in financial investigations, the seizure of criminal assets, the digitalization of customs and the modernization of tax administration.
In conclusion, Malaj stated that Albania today is "economically stronger, financially more stable and closer to the European Union than ever before", describing European integration as a national strategic objective.
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