The International Monetary Fund warns that justice reform will be critical for the Albanian economy. In its latest report on regional economies, the IMF estimates that two reforms that can accelerate economic growth in Albania is that of the judiciary and the security of property.
According to the Fund, improving the judicial system and strengthening of property rights can increase the productivity of the Albanian economy up to 35%, which will significantly accelerate the growth of national production.
IFM experts have not given details on the calculation of these results. But, according to them, other structural reforms to facilitate business procedures or the removal of restrictions on foreign investment would have much smaller effects in stimulating the economy than interference in the judiciary and the right to property.The slowdown in productivity growth is the main reason why economic growth in Albania shrank dramatically from 6% rates that were before the crisis, to almost zero in 2012-2013.
On the association of foreign investors they lack confidence in the courts as one of the main obstacles to foreign investment and the expansion of their activities in Albania.
The IMF says that after 2008, the global economic environment has become much more difficult. According to the fund, the economic performance of countries will depend on the success of structural reforms, where those in the field of justice seem important not only in Albania but in almost all countries of the region.