World Bank improves Albania’s 2014 GDP growth projection to 2.1%.

By bne IntelliNews January 16, 2014

Albanian economy is projected to grow by real 2.1% y/y in 2014, speeding up from 1.3% estimated for 2013, the World Bank said in the January edition of its Global Economic Prospects report, revising up an earlier projection for a 2% y/y rise. The country’s economic output is expected to accelerate further to 3% y/y in both 2015 and 2016, the bank said.

Albania's current account deficit will gradually narrow from 8.2% of GDP in 2013 to 7.1% this year and to 6.3% of GDP in 2015.

In regional comparison, Albania’s economy will grow faster than Bosnia and Herzegovina (2%) and Serbia (1%) but will lag behind Kosovo (4%), Macedonia (3%) and Montenegro (2.5%).

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. The EBRD also improved its expectations for Albania's economic growth prospects and said in November it sees the GDP growth at 2%, up from 1.9% projected earlier.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EIF signs guarantee agreements with 11 banks in Western Balkans, unlocking €750mn for small businesses

The European Investment Fund (EIF), part of the EIB Group, said on April 15 that it has signed guarantee agreements with 11 banks and financial intermediaries in the Western Balkans. These ... more

EIB surpasses investment milestone in the Western Balkans by investing €1.2bn in 2023

EIB Global, the financial arm of the European Investment Bank (EIB) for activities beyond the EU, set a new record by investing €1.2bn in the Western Balkans in 2023, the EIB said on February 9. ... ... more

Albanian banks’ profits reach ALL28bn in 2023

Albanian banks reported profits of ALL28.5bn (€271.7bn) in 2023, according to data from the Albanian Association of Banks. All banks in the country reported a profit for the year.  The most ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    6 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    6 days ago
  3. Russia’s war economy boosted by rising oil prices
    7 days ago
  4. Russia’s $13.4bn current account surplus in March second highest since 2007
    6 days ago
  5. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    24 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    28 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    26 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss