Party or LDP [ruled by committee of Genc RULI, Alfred
SERREQI, Dashimir SHEHI, Maksim KONOMI]; Balli Kombetar [Hysen SELFO]

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

Diplomatic representation in the US:
chief of mission : Ambassador Lublin DILJA
chancery: Suite 1000, 1511 K Street NW, Washington, DC 20005
telephone: [1] (202) 223-4942, 8187
FAX: [1] (202) 628-7342

Diplomatic representation from the US:
chief of mission : Ambassador Marisa R. LINO (15 July 1996)
embassy: Rruga E. Labinoti 103, Tirane
mailing address: PSC 59, Box 100 (A), APO AE 09624
telephone: [355] (42) 328-75, 335-20
FAX: [355] (42) 322-22

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

Economy

Economy - overview: An extremely poor country 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 collapse 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%. The collapse of financial pyramid schemes in early 1997
- which had attracted deposits from a substantial portion of Albania's
adult population - triggered unrest in much of the south in early
1997. The economy continues to be buoyed by remittances of some 20% of
the labor force which 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. Overall economic performance is likely to
be substantially worse in 1997; inflation will easily top 50% and GDP
may drop by 5% or more.

GDP: purchasing power parity - $4.4 billion (1996 est.)

GDP - real growth rate: 5% (1996 est.)

GDP - per capita: purchasing power parity - $1,290 (1996 est.)

GDP - composition by sector:
agriculture: 56%
industry: 21%
services: 23% (1995)

Inflation rate - consumer price index: 17.4% (1996)

Labor force:
total: 1.692 million