The Evolution of the Financial System in Albania
The Evolution of the Financial System in Albania

Author(s): Eneida Cifligu
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Financial System; Albania; Future trend; Economy in transition; Post-dictatorship period
Summary/Abstract: This paper aims to bring a general framework of the financial system in Albania: how it has evolved and how the situation has been presented in the last 10 years. The Albanian economy continues to be an economy in transition and Albania is considered a developing country, that aims to join the European Union and as such the economy faces great challenges and difficulties, but at the same time, there are still unexploited development opportunities. The level of financial development significantly influences economic development as a whole, so there remains an important system that must be analyzed at any time: problems, challenges and future perspectives. The more complex the economy, the more evident the role of the financial system in it. The objective is to conclude in which directions it is suggested to invest in order to improve, modernize and evolve our financial system so that in the future it can operate freely with the European and world markets.

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