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"Fitch Ratings" prediction: Albania may be admitted to the EU in 2032

Politiko 2023-09-22 13:52:05

"Fitch Ratings" prediction: Albania may be admitted to the EU in 2032

The International Rating Agency, Fitch Ratings, recently devoted an article to Albania's EU membership.

According to Fitch Ratings, Albania's accession to the EU is unlikely before 2032. The article states that accession to the EU remains a distant prospect for Albania, given the level of reforms the country needs.

" While Albania was granted candidate status in 2014 and has recently opened formal accession negotiations with the EU, we believe that accession is unlikely to happen over the next decade.

Apart from the internal difficulties to meet the necessary reform requirements, Albania's candidacy is likely to be hampered by its ties to the accession of North Macedonia.

Although membership remains a distant prospect for Albania, we expect that the growing political will on both sides to create a closer partnership will be a major windfall for Albania's economy.

On August 28, European Council President Charles Michel asked EU member states to prepare for further enlargement of the bloc by 2030. While Albania was granted candidate status in 2014 and has recently opened formal accession negotiations with the EU, we believe that EU accession remains a distant prospect over the next decade. We believe that the scale of reforms required in Albania and the reluctance of EU member states to accept new members will make membership difficult within our forecast horizon of 2032. However, we believe that broad public support and Albania's political agenda for membership will facilitate reforms and continue to be a positive force for Albania's economy. We keep our Short-Term Political Risk Index score at 51.2 out of 100 (higher score indicates lower risk) as this view has been factored into our long-term score. Our long-term political risk score is 62.7", says one part of the article.

 

 

 

 

 

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