IMF projects Albanian economy to grow by real 2.6% y/y in 2010.

By bne IntelliNews October 7, 2010
"The Albanian economy is projected to increase by 2.6 y/y in real terms in 2010, decelerating from the 3.3% y/y growth in 2009, the IMF forecast in its latest World Economic Outlook report. This represents an upward revision from the funds April projection for a 2.3% y/y growth in 2010. The forecast is thus 1.5pps bellow the expectations of the government. The growth will further pick up to 3.2% y/y in 2011 and 5% y/y in 2015, the document added. The fund predicted an average headline inflation of 3.4% y/y in 2010, up from 2.2% y/y for 2009. However, price growth will moderate to 2.9% y/y in 2011. The current account is expected to improve to a deficit of 9.2% of GDP in 2010 and 8.9% in 2011, down from 14% of GDP in 2009. The gap is expected to narrow to 4.9% of GDP in 2015.
 Selected macroeconomic indicators
2009 2010 2011
GDP Growth (%, y/y) 3.3 2.6 3.2
CPI Inflation (%, y/y, average) 2.2 3.4 2.9
Current Account Balance (% of GDP) -14.0 -9.2 -8.9
Source: IMF World Economic Outlook

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