World Bank confirms Albania’s 2014 GDP growth projection at 2.1%

By bne IntelliNews May 27, 2014

Albania's economy is projected to grow by 2.1% in 2014, speeding up from the estimated 0.4% for 2013, the World Bank said in its South East Europe regular economic report, confirming its previous projection made in January.

The annual growth rate is forecast to speed up to 3.3% y/y in 2015. The bank noted that the planned clearance of payment arrears (2.5% of GDP) by the government is expected to inject liquidity into the private sector and help accelerate growth. On the other hand, this will exert pressure on the country’s fiscal position

In regional comparison, Albania will be the region’s fourth fastest growing economy in 2014 after Kosovo, which is seen to expand by 3.5%, Montenegro (3.2%) and Macedonia (3%).

The Albanian government also sees this year's GDP growth at 2.1%. This projection is in line with the latest forecast of the IMF as well. The EBRD projected earlier this month a 1.7% rise for 2014.

Related Articles

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

Albania’s central bank to issue new high-denomination banknote

The Albania’s central bank has announced it will issue a new ALL10,000 (€74.9) banknote. The new ALL10,000 banknote will have the highest value issued so far, as the current biggest value ... more

Citizens to get "same information as MPs" as Albania launches new e-governance app

Albanian Prime Minister Edi Rama presented a new online platform for co-governance with citizens entitled “Albania We Want” on October 28. Ensuring functional and responsible ... more

Dismiss