Albanian economy is projected to grow by real 1.8% y/y in 2013, speeding up from 1.6% y/y in 2012, the World Bank said in the June 2013 edition of its Global Economic Prospects report, revising upwards its earlier projection for a 1.6% y/y growth.
The country’s economic output is expected to gradually accelerate to 2% y/y in 2014 and to 3% y/y in 2015, the bank said, confirming previous estimates. In regional comparison, Albania will be the third fastest growing economy among Western Balkan countries in 2013 after Kosovo (3.1%) and Serbia (2.0%).
The World Bank expects Albania’s current account deficit to stand at 9.7% of GDP in 2013 and gradually fall to 7.1% in 2015.
In April 2013, the International Monetary Fund (IMF) projected Albania’s GDP growth at 1.8% y/y in 2013 also revising upwards its projection from 1.7%. By contrast, in May the European Bank for Reconstruction and Development (EBRD) lowered its estimate for Albania's GDP growth to 1.5% from 2% y/y for 2013.
International oil major Shell plans to invest $42.5mn in oil and gas exploration in southern Albania over the next seven years, Albania’s National Agency of Natural Resources ... more
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
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