Environmentally sustainable economic growth in Albania

Kumi Evis
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Kumi Evis: Tirana Metropolitan University, Albania

Academic Journal of Business, Administration, Law and Social Sciences, 2024, vol. 10, issue 3, 57-66

Abstract: While Albania has experienced significant economic growth, it has also faced environmental degradation and social inequality. The article reviews important policies and strategies that Albania has implemented to achieve key transitions around energy, food and digital connectivity, underpinned by expanded access to social protection and decent jobs, and education and skills for the future, which are essential for rewiring the economy to combat another crisis and to reduce inequalities within Albania. Achieving these objectives requires not only strengthened institutions and policy frameworks but also improving key sectors like energy, agriculture, tourism, waste management, and urban development. These issues offer both opportunities and challenges for green growth. The 21st century has brought about various environmental and social challenges, leading to the emergence of the concept of the “green economy.” A green economy aims to reduce environmental risks and ecological scarcity while promoting social justice and improving human well-being. This article explores Albania’s potential to achieve sustainable development through the adoption of an environment friendly economy. The scope of this work is to offer suggestions to accelerate Albania’s move towards a sustainable economy, including the enhancement of governance frameworks to tackle issues such as climate change and biodiversity loss. Moreover, to encourage the growth of ecotourism and the development of a circular bioeconomy, to address the skills gap faced particularly in the areas of innovation and digitalization, to support the value chains SMEs, promoting decent jobs and inclusive employment opportunities.

Keywords: Environmental protection; green economy; sustainable development; circular economy; financial resources (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ajbals:v:10:y:2024:i:3:p:57-66:n:1005

DOI: 10.2478/ajbals-2024-0020

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