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Key Economic Data 
  2003 2002 2001 Ranking(2003)
Millions of US $ 6,124 4,695 4,100 109
GNI per capita
 US $ 1,740 1,380 1,340 120
Ranking is given out of 208 nations - (data from the World Bank)

Books on Albania

Update No: 156 - (27/05/10)

Albania rebounds
Albania was about the most backward country of Europe in 1939, when it was occupied by the Italians, who deposed King Zog, the last monarch of the country.

It had to endure a ghastly series of regimes, the worst of which was that of Enver Hohxa, the communist dictator of the country for thirty years. He died in March 1985, the very month a certain Mikhail Gorbachev became the First General Secretary of the Soviet Communist Party. As it so happens, he became the last general secretary too.

Albania went through difficult times. It escaped from communism altogether by 1991, the same year that the USSR did.

It had a tough time in the 1990s, being given disastrously ideological advice from the West, blinkered by its triumphalism.

When Albania really began to rebound was in 1999, when the West went to the rescue of the Kosovar Albanians. Its GDP growth averaged 7% per annum for nearly a decade.
But then came the global crisis

Gripped in crisis
Albania had a traumatic event in June last year: national elections for parliament. The results are still being strongly disputed.

Albania's president has summoned the government and main opposition parties to talks on alleged electoral fraud, in a bid to end a seven-month political crisis. Bamir Topi said in a statement on February 4 he would hold preliminary meetings with party leaders "to prepare the terms of round-table negotiations."

Political parties had no immediate response. The main opposition Socialists have boycotted Parliament for months, blocking most legislative work, and have staged large protests.

They claim Prime Minister Sali Berisha's Democrats manipulated vote counting in the June 28 national elections and demand a recount, which the government has ruled out. The Democrats control 75 of parliament's 140 seats; the Socialists 65.

The new Eldorado
Large mineral reserves exist in Albania and Kosovo worth hundreds of billions of dollars. The most significant in Kosovo is coal deposits, which are the largest in Europe, as of gold, silver, arsenic, thallium, bismuth and iron, types of Lead, Zinc and other metals .

In Albania there are large deposits of chrome ore, bauxite, copper, nickel, quartz, magnesium and cobalt.

In the last two years huge explorations have taken place in Northern Albania, especially Tropoje and Kukes. According to Albanian Minerals & Bytyci Shpk engineer geologist , there have been 100 new locations of chrome ore in Tropoje.

Recently huge deposits of chrome ore have been found in Vlad, Pac, Zogaj, Kam, and Lugu i Zi.The body of this large chrome ore extends a hundred kilometers long from Lugu i Zi, Tropoje to Vlahen, Kukes and 50 miles wide from Zogaj to Tpla, Tropoje. Albanian Minerals and Bytyci Shpk has intensified exploration and started mining in Zogaj, Pac and Vlad.

According to Italian and American engineers, working for Albanian Minerals and Bytyci Shpk, this huge area from Tropoje to Kukes may have more than 500 million tons of chrome ore. New geological surveys and chemical results done by Albanian Minerals have shown an amazing amount of minerals in Northern Albania and Kosovo. There are also large amounts of magnesium and nickel.

The Albanian government has done an amazing job building roads where minerals are found. The value of already discovered minerals in Albania and Kosovo exceeds 100 billion dollars as a raw material. Albanian Minerals in New York has increased the work done in building infrastructure and amount of money invested and is planning to triple the amount of investments in the region.

They have created a partnership and joint venture with the world's largest business to business marketing companies. The potential in minerals in Albania and Kosovo is more than anyone has ever imagined. This would create a powerful economic growth in Albania, Kosovo and the entire Balkans.


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