Over the period 2019-21, Albania had to confront dual shocks: the 2019 earthquake and the COVID-19 pandemic. Both had sizable impacts on the country's economy. The COVID-19 pandemic took a heavy toll on an economy already affected by the earthquake in 2019. Key sectors were put in lockdown in t...

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Körperschaft:	World Bank Group (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	Washington, D.C The World Bank 2021
Schriftenreihe:	Other Financial Sector Study
Schlagworte:	Business Cycles and Stabilization Policies Business Environment Macroeconomics and Economic Growth Private Sector Development Small and Medium Size Enterprises
Online-Zugang:	Volltext
Zusammenfassung:	Over the period 2019-21, Albania had to confront dual shocks: the 2019 earthquake and the COVID-19 pandemic. Both had sizable impacts on the country's economy. The COVID-19 pandemic took a heavy toll on an economy already affected by the earthquake in 2019. Key sectors were put in lockdown in the second quarter of 2020, and the economy suffered a severe contraction of -10.6 percent in gross domestic product (GDP). The pandemic hit the travel, tourism, and other services sectors first; then mobility restrictions and post-COVID-19 behavior changes affected firms' supply and demand. Given the structure of the economy, the associated loss in sales and profits had a disproportionate effect on small and medium enterprises
Beschreibung:	1 Online-Ressource
DOI:	10.1596/37258