DNJ [Vasil MELO, chairman]

Political pressure groups and leaders: NA

International organization participation: ACCT (associate), BSEC,
CCC, CE, CEI, EAPC, EBRD, ECE, FAO, IAEA, IBRD, ICAO, ICRM, IDA,
IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Intelsat (nonsignatory user),
Interpol, IOC, IOM, ISO (correspondent), ITU, OIC, OPCW, OSCE, PFP,
UN, UNCTAD, UNESCO, UNIDO, UNOMIG, UPU, WFTU, WHO, WIPO, WMO, WToO,
WTrO

Diplomatic representation in the US: chief of mission: Ambassador
Petrit BUSHATI

chancery: 2100 S Street NW, Washington, DC 20008

telephone: [1] (202) 223-4942

FAX: [1] (202) 628-7342

Diplomatic representation from the US: chief of mission: Ambassador
Joseph LIMPRECHT

embassy: Rruga Elbasanit Labinoti 103, Tirana

mailing address: PSC 59, Box 100(A), APO AE 09624

telephone: [355] (42) 32875, 33520

FAX: [355] (42) 32222

Flag description: red with a black two-headed eagle in the center

Albania Economy

Economy - overview: Poor by European standards, Albania is making
the difficult transition to a more open-market economy. The economy
rebounded in 1993-95 after a severe depression accompanying the end
of the previous centrally planned system in 1990 and 1991. However,
a weakening of government resolve to maintain stabilization policies
in the election year of 1996 contributed to renewal of inflationary
pressures, spurred by the budget deficit which exceeded 12% of GDP.
The collapse of financial pyramid schemes in early 1997 - which had
attracted deposits from a substantial portion of Albania's
population - triggered severe social unrest which led to more than
1,500 deaths, widespread destruction of property, and a 7% drop in
GDP. The government has taken measures to curb violent crime and to
revive economic activity and trade. The economy is bolstered by
remittances from some 20% of the labor force that works abroad,
mostly in Greece and Italy. These remittances supplement GDP and
help offset the large foreign trade deficit. Most agricultural land
was privatized in 1992, substantially improving peasant incomes. In
1998, Albania recovered the 7% drop in GDP of 1997 and pushed ahead
by 8% in 1999 and by 7.5% in 2000. International aid helped defray
the high costs of receiving and returning refugees from the Kosovo
conflict. Privatization scored some successes in 2000, but other
reforms lagged.

GDP: purchasing power parity - $10.5 billion (2000 est.)

GDP - real growth rate