The Evolution of the Financial System in Albania

Eneida Cifliqu– University “Fan S. Noli” of Korça, Bulevardi Rilindasit, 7001, Korçe, Albania

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.

10th International Scientific Conference ERAZ 2024 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT,  hybrid – online, virtually and in person, Lisbon, Portugal, June 6, 2024

ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2024 Conference Proceedings: ISBN 978-86-80194-86-8, ISSN 2683-5568,

DOI: https://doi.org/10.31410/ERAZ.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

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