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Assessment of Firms' Financial Resilience against Pandemic and Disaster Shocks in Albania / World Bank.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Author/Creator:
- World Bank, author, issuing body.
- Language:
- English
- Subjects (All):
- Business cycles--Congresses.
- Business cycles.
- Physical Description:
- 1 online resource
- Place of Publication:
- Washington, D.C. : World Bank, 2021.
- Summary:
- 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.
- Notes:
- Description based on publisher supplied metadata and other sources.
- Publisher Number:
- 10.1596/37258
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