TIRANA, November 9
The European Commission revised its forecast for Albania’s GDP growth from 3.6 percent to 4.1 percent in the ‘Autumn 2018 Economic Forecast’.
“Economic growth is expected to remain solid, driven mainly by private consumption. It is, however, forecast to soften in 2019 as electricity production is unlikely to continue at the exceptional level of early 2018. The strengthening Albanian currency is likely to weigh on export growth. The high level of public debt as a share of GDP is forecast to continue its gradual decline,” the report says about Albania.
Further on the report highlights that in 2019 and 2020, export growth is forecast to decelerate partly on account of the lagged appreciation effect, but mainly because of lower oil and electricity exports. More specifically, import growth, which has been driven by some large energy projects in recent years, is expected to slow down further in 2019 as these projects near completion.
News Source: Europa.eu