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

Related Articles

Albania calls tender for supervision of sewerage project.

Albania has called a tender to select a company to supervise the construction and supplies for a sewerage system and waste water treatment plant in Velipoja area, the European Commission informed ... more

Albania's govt approves changes in concession agreement for Devoll project.

The Albanian government has approved changes in the concessionary agreement for the Devoll Hydropower cascade, which formally enables Austrian EVN to exit from the project, the cabinets press ... more

Albanian parliament panel endorses EUR 12.7mn EBRD loan for dam safety project.

The economy and finance committee of Albanias Parliament has approved a EUR 12.7mn loan from the European Bank for Reconstruction and Development (EBRD) to be used to fund a project for upgrading ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss