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.
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
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
Albania’s Balfin Group said it will invest over €300mn to build a commercial-residential complex in the Macedonian capital Skopje. Balfin Group is one of the largest regional companies, with a ... more