Albanian Government

Independence:
28 November 1912 (from Ottoman Empire)
Capital city:
Tirana
National holiday:
Independence Day, 28 November (1912)
Country name:
conventional long form: Republic of Albania
conventional short form: Albania
Executive branch:
chief of state: President of the Republic
head of government: Prime Minister
Judicial branch:
Supreme Court, chairman of the Supreme Court is elected by the People’s Assembly for a four-year term
Legislative branch:
Unicameral People’s Assembly or Kuvendi Popullor (155 seats; most members are elected by direct popular vote and some by proportional vote for four-year terms)

Economy

Since 2001 the Albanian economy has enjoyed a GDP growth of over 5% and it has kept inflation under 4%. The Albanian currency is the LEK and it is approximately exchanged at 121.00 LEK per 1.00 Euro. On top of local production, the economy is also bolstered by remittances from abroad of 18% of GDP annually, mostly from Greece and Italy.