Albania's economic output is expected to grow by a real 2% y/y in 2014, speeding up from 1.7% y/y in 2013, Austria’s Raiffeisen International said in its latest CEE Strategy quarterly report published on its website. The bank has cut its estimate from a 3% y/y rise expected in October 2013.
Albania’s current account deficit is projected at 9.2% of GDP in 2014. The consumer price growth is forecast to accelerate from 2% y/y in 2013 to 2.3% y/y in 2014 and to 2.5% y/y in 2015.
Raiffeisen sees the country’s general budget deficit at 6.6% of GDP in 2014, widening from 6% in 2013. The gap is expected to narrow to 4.5% of GDP in 2015. The government debt is expected to increase from 68% of GDP at end-2013 to 72% at end-2014, and then again drop to 68% at end-2015.
|Raiffeisen Bank projections for 2014 (%)|
|GDP||Inflation||CA balance||Budget balance||Public debt|
|Source: Raiffeisen Bank, Central and Eastern European Strategy for Q1 2014|
Dismissing "parasites" in the public administration will be the priority of the Socialist-led government during its second mandate, Albanian Prime Minister Edi Rama has said, ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more