World Bank improves Albania’s 2013 GDP growth projection to 1.8%.

By bne IntelliNews June 14, 2013

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.

Related Articles

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

Albanian opposition party splits after disastrous election performance

Members of Albania’s main opposition Democratic Party (DP) that have been excluded from the party by its leader Lulzim Basha plan to establish a new political movement, local media reported on ... more

Albania's new government to make drastic job cuts in public administration

The new Albanian cabinet plans to drastically slash the number of employees in the public administration to make it more efficient. Prime Minister Edi Rama recently ... more

Dismiss