Editing Economy of Albania (section)

==History==
[[File:GDP per capita development of Albania.jpg|thumb|right|GDP per capita development of Albania since 1913]]

Following the [[Fall of communism in Albania|collapse of the communist regime]] in 1990, Albania experienced a mass exodus of [[refugee]]s to [[Italy]] and [[Greece]]. The country attempted to transition to [[autarky]], which eventually succeeded. Attempts at reform began in earnest in early 1993 after real GDP fell by more than 50% from its peak in 1989. The country currently suffers from high organised crime and high [[Corruption in Albania|corruption]] rates.

The democratically elected government that assumed office in April 1992 launched an ambitious economic reform program to halt economic deterioration and put the country on the path toward a market economy. Key elements included price and exchange system [[liberalisation]], fiscal consolidation, monetary restraint, and a firm income policy. These were complemented by a comprehensive package of structural reforms including privatisation, enterprise, and financial sector reform, and the creation of the legal framework for a market economy and private sector activity. Most agriculture, state housing, and small industry were privatised. This trend continued with the privatisation of transport, services, and small and medium-sized enterprises.

In 1995, the government began privatising large state enterprises. After reaching a low point in the early 1990s, the economy slowly expanded again, reaching its 1989 level by the end of the decade.<ref>{{cite web|url= http://earthtrends.wri.org/text/economics-business/variable-638.html |title=What We Do|access-date=3 March 2015 |url-status=live |archive-url= https://web.archive.org/web/20100213054226/http://earthtrends.wri.org/text/economics-business/variable-638.html |archive-date=13 February 2010}}</ref>