Albanian economy is expected to grow by real 2% y/y in 2013, rising at the same pace as in the previous year, Austria’s Raiffeisen International said in its latest CEE Strategy quarterly report published on its website. Albania’s GDP growth is expected to speed up to 3.5% in 2014. The country is expected to be the fastest growing economy in SEE, where GDP is seen rising 0.9% and 2.4% on average in 2013 and 2014, respectively.
Albania’s current account deficit will slightly increase to 9.1% of GDP in 2013 from 8.8% of GDP in 2012. The consumer price growth is projected to accelerate to 2.5% y/y in 2013 from 2% y/y in 2012. Raiffeisen projects the country’s general budget deficit at 3% of GDP in 2013 and 2014, thus remaining unchanged from its level in 2012. Government debt is expected to grow by 1.1pps y/y to 62.6% of GDP at end-2013, while a slight decline is expected in 2014.
|Raiffeisen Bank projections for 2013 (%)|
|GDP||Inflation||CA balance||Budget balance||Public debt|
|Source: Raiffeisen Bank, Central and Eastern European Strategy for Q2 2013|
12 Albanian police officers were injured in clashes with protestors who tried to enter the parliament building during protests over the demolition of their homes and businesses to make way for the ... more
The International Monetary Fund (IMF) said on November 20 that Albania needs to reduce the fiscal deficit so as to create fiscal buffers, as in case of adverse risks to economic growth there ... more
Protests in Tirana against plans to demolish buildings to make way for the construction of ring road around the Albanian capital escalated on November 15. Citizens of the Astir area in ... more