The Bank of Albania (BoA) recently confirmed that the domestic economy is showing steady signs of recovery in regard to the long term point of view. This is explained by the fact that the producing resources were displaced from construction to the industry sector.
BoA also made known that the economic activity saw a high rate of growth by 2.7 percent during the first nine months of 2015. In the same period of 2014 the rate of economic growth was 2.0 percent.
According to BoA, the service sector contributed positively to the nine month period of economic growth. Its contribution is estimated at 1.26 percentage point. This sector also benefited from the increased investments during 2015. Moreover, the economic activity was supported even by the extension of the industry sector, which contributed by 0.82 percentage points. On the other hand, the same thing cannot be said for the agricultural sector, which had a negative contribution on the real economic growth rate.
The latest BoA’s report on the economic situation in Albania highlighted that indicators show positive, which guarantees an upward trend even for the forthcoming period.
News Source/ Photo Credits: ATA
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