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

New parliamentary dress code to rein in Albania’s sneaker loving PM

Albanian Prime Minister Edi Rama will have to change his sartorial ways when he attends parliament sessions under a new code of conduct for MPs drawn up by the governing Socialist Party.  The ... more

Albania a "centre of organised crime" says US ambassador

The US ambassador in Albania Donald Lu has urged the authorities in Tirana to fight against organised crime, which he said was the biggest and most difficult challenge ahead for the country. ... more

Albanian opposition parties demand referendum on waste imports

Albanian opposition parties have asked for a referendum to be held to end a six-year debate on whether the country should permit waste imports.  The ... more