Economy of the Albanian Regions Away From the Perspective of Sustainable Development

Comparing the GDP growth rates of different regions can play a role in asset allocation, helping investment decisions in fast-growing regional economies.However, experts clarify on the other hand, that beyond the foreign investments that have entered Albania, the lack of diversification of sectors and the increase in the utilization capacities of the productive sectors in the country remains an unaddressed challenge with a sharp impact on the productivity of the economy.This is evident in the fact that Albania in 2022 with a weight of 16 percent of the population of the Western Balkans (BP6) produces as much as 13 percent of it, or at least below the weight of the population. This ratio has changed for the worse compared to 10 years ago, where the weight of Albania's population was 14% of the population and produced again as much as 13% of it.Meanwhile, developed countries produce 2-3 times more added value than the weight of their population.Effective employment is growing much more slowly and in some cases is declining. Aging is becoming pronounced, leading to a decline in the support ratio. In regions of the country, GDP and income per effective consumer are likely to grow more slowly because of demographic changes.No other region of the country is as prosperous or innovative as Tirana, according to the indicator of the regional weight in the national GDP. On the other hand, according to long-term forecasts, the size of the economy of other regions is unlikely to come close to that of Tirana.Because high-income and upper-middle-income Tirana and Durrës have larger economies, developments there may dominate the country's economic trends.The population is projected to decrease 15.8% between 2020 and 2050, despite a slowdown in its growth rate.The main source of the obstacle for further and sustainable growth of the country's regions is the weak support of innovation and the still unopened market to be an integral part of the chain of the regional and national economy based on rules