IMF: Economic Growth Will be Slowed Down

IMF: Economic Growth Will be Slowed Down

TIRANA, July 4

The International Monetary Fund (IMF) has made public the second report of the program of post-monitoring for Albania, where it clarifies that the economy is able to pay the dues to the Fund as a result of the macro-economic stability, and the progress in reforms. Regarding the economic growth, IMF says that this year will be slowed down by 3.5%, as it was predicting in the previous report, in May 2019.

The slowdown will come as a result of the effect of power production, as well as of the slowdown of the main economic partners of the country. Next year, the GDP is predicted to be increased by 4%, because of the expectations of the EU, the growth of the market labor, the empowerment of exports, including tourism and the need for investments.

Washington-based institution lists some of the main risks that threaten the economy, and consequently the public finances. The internal risks, according to IMF are: the sensibility towards the drought, the aging population, and the emigration of the skilled workers. Even the management of the public finances, mainly the schemes of the Public Private Partnership are in the list of the warnings of IMF, along with the Albanian Corporation of Investments. The objections about the creation of this agency, the International Monetary Fund has expressed in the past too.


Read also: Albania Must Reduce Deficit, IMF Urges

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