Albanian President Ilir Meta reacted after the report of European Bank for Reconstruction and Development which predicts the country’s economy to fall with 9 percent, the biggest drop in the region.

The economic decline has come due to Edi Rama’s bad governance in addition to the devastating earthquake of last November and the coronavirus pandemic.

Meta said the EBRD report shows the deep structural crisis of the economy. Sipas presidentit Meta, raporti i BERZH na tregon krizën e thellë strukturore të ekonomisë sonë.

"Recent warnings from the EBRD and other international institutions on recession of Albania's economy are not only alarming in the short term, but also show the deep structural crisis of our economy”, Meta wrote. “Therefore, we must work seriously to support current economic activities, but also to think about overcoming the structural crisis by reviewing the economic model.

The economic model should be based on diversifying the economy to reduce the risk of crises and ensure sustainable economic development.

We must work to exploit the potential of our country to increase energy production, increase the value of mineral and natural resources through their processing, increase industrial production and multiply agricultural and agri-industrial production.

Expanding port capacity, transportation network, and power transmission is potentially another opportunity to take advantage of our geographic advantage.

Meanwhile, any economic and investment policy must guarantee the protection of the environment as a necessity for the strengthening of tourism in the long run".