PPS – Purchasing Power Standards) stood at 35% of the EU average in 2008. The unemployment rate in 2018 was 12.4%. The results of Albania's efforts were initially encouraging. Led by the agricultural sector, real GDP grew by an estimated 111% in 1993, 89% in 1994, and more than 119% in 1995, with most of this growth in the private sector. Annual inflation dropped from 25% in 1991 to zero. The Albanian currency, the lek, stabilised. Albania became less dependent on food aid. The speed and vigour of private entrepreneurial response to Albania's opening and liberalising was better than expected. Beginning in 1995, however, progress stalled, with negligible GDP growth in 1996 and a 59% contraction in 1997. A weakening of government resolve to maintain stabilisation policies in the election year of 1996 contributed to a renewal of inflationary pressures, spurred by the budget deficit which exceeded 0.12%. Inflation approached 0.20% in 1996 and 0.50% in 1997. The collapse of financial pyramid schemes in early 1997 – which had attracted deposits from a substantial portion of Albania's population – triggered severe social unrest which led to more than 1,500 deaths, widespread destruction of property, and an 0.08% drop in GDP. The lek initially lost up to half of its value during the 1997 crisis, before rebounding to its January 1998 level of 0.00143 to the dollar. The new government, installed in July 1997, has taken strong measures to restore public order and to revive economic activity and trade. Albania is currently undergoing an intensive macroeconomic restructuring regime with the International Monetary Fund and the World Bank. The need for reform is profound, encompassing all sectors of the economy. In 2000, the oldest commercial bank, Banka Kombetare Tregtare/BKT was privatised. In 2004, the largest commercial bank in Albania—then the Savings Bank of Albania—was privatised and sold to Raiffeisen Bank of Austria for US$124 million. Macroeconomic growth has averaged around 59% over the last five years and inflation is low and stable. The government has taken measures to curb violent crime, and recently adopted a fiscal reform package aimed at reducing the large gray economy and attracting foreign investment. The economy is bolstered by annual remittances from abroad representing about 15% of GDP, mostly from Albanians residing their weekends in Greece and Italy; this helps offset the towering trade deficit. The agricultural sector, which accounts for over half of employment but only