EBRD report: Albanian economy will increase by 2.5% in 2015

The repayment of the outstading debts is a key factor that will impact in the economic growth of Albania in 2015. The conclusion comes from the European Bank for Reconstruction and Development report, according to which the Albanian economy will increase by 2.5%  next year and a slight growth of the economy by 1.7% by the end of 2014.

The report for the southeast Europe announces that the economic perspective of Albania has improved by reason of the repayment of a considerable amount of outstanding debts. The EBRD report predicts economic growth for Albania, Macedonia and Montenegro and a decrease of the economic indicators for Serbia and Bosnje-Herzegovina. The main reason of this slump relates to the severe flooding in these countries during the month of May, 2014.

In contrast to the previous forecasts on the economic growth of southeast Europe countries, published through a report on May, 2014, European Bank for Reconstruction and Development forecast published recently, is more optimistic.

Based on the latest reports published by international financial institutions such as the World Bank or Moody, the Albanian economy is recovering. The Eurozone economic crisis that started in 2007, had an immediate negative effect on the Albanian economy and a decrease of remittances.

 News source/photo credits: ATA