The Impact of Economic and Policy Reforms of the European Union in a Geopolitical Crisis of the Neighboring Countries: the Case of Albania. Economic and Policy Reforms of the European Union in Albania

This paper aims to provide an in-depth analysis of the EU's geopolitical policy in the Western Balkans (WB), with an emphasis on Albania in different years of the integration process. The paper consists of three parts. The first part focuses on the impact of political and economic changes in the European Union (EU) approximation process on the country's socioeconomic system. The second part provides a comprehensive view of the opportunities and challenges that the country is facing in this regard. The third part provides an overview of the current situation of Albania's economic development and growth after the COVID-19 pandemic, highlighting the importance of addressing the gaps in national economic policies, financial education, and collaboration between institutions, civil society, and stakeholders for the reported gaps in public administration, free trade, and macroeconomic stability. Due to its geopolitical strategic placement, Albania, as part of the Western Balkans region, has gained and benefited from European initiatives, support and aid in different stages of the neighboring process. Although good progress has been made, much more must be done to achieve a comprehensive approximation of the country’s economic and political stability for the welfare of its citizens.