Albanians Optimist About the Economy, but Reality Disappoints Them

Albanians Optimist About the Economy, but Reality Disappoints Them

TIRANA, July 11

Albanians generally expect the economy to go well in terms of the financial situation and consumption, but in fact the reality disappointment them. That is what the latest report from the Bank of Albania says about the trust of consumers for the last ten years. From 2009 until 2019, the expectation for the financial situation of Albanian citizens has a margin of almost 10 points in relation to reality, except 2013.

Over the decade, only in 2013 economic developments, in reality, were higher than the expectations of consumers for their economy. The same margin, but somewhat lower, is also seen for large purchases. Consumers plan to buy durable goods more than they actually do.

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Even the savings plan is more optimistic than reality, with a systemic point difference between expectations and actual realization. The Bank of Albania reported that in the second quarter of 2019, the consumer confidence indicator fell by 2.3%,  halting the upward dynamics of the previous two trimesters.

The Bank argued that the downward trend in consumer trust reflected the three downturns: the overall economic situation expected in the country by 4.6%,  the expected financial situation of the household by 3.6 % and the situation of the income by 1.0%. Meanwhile, the other consumer trust indicator balance, the large purchases, registered a very slight increase by 0.1%.


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