Assessment of Firms' Financial Resilience against Pandemic and Disaster Shocks in Albania
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
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| Format: | Report biblioteca |
| Language: | English |
| Published: |
Washington, DC
2021-06
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| Subjects: | BUSINESS INTERRUPTION, VOLATILITY, DISASTER RISK, PRIVATE SECTOR RESILIENCE, SMALL ENTERPRISES, MEDIUM ENTERPRISES, PANDEMIC RECOVERY, COVID-19 RECOVERY, AT RISK ASSETS, RISK MITIGATION, |
| Online Access: | http://documents.worldbank.org/curated/en/099320004012219725/P17481107a14b00b6084e90f6663d56cade http://hdl.handle.net/10986/37258 |
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