Economic growth in the second quarter of the year is below the EBRD forecast for 2022.
The EBRD reduced the economic growth of the region to 3 percent and that is the forecast for the Albanian economy as well. Montenegro and Kosovo are predicted to have the highest growth with 4.7 and 4 % respectively.
Below Albania are Bosnia and North Macedonia, with 2.3 percent. Both of these countries are more exposed in terms of the energy crisis and threatened by political instability.
Albania, on the other hand, is being penalized for the slowdown in construction and industrial activity. Construction was one of the sectors that sustained the economy during the two years of the pandemic. However, the latest INSTAT data show a decline in economic activity, after the boom in the earthquake reconstruction process and the record of permits granted over the course of 2021.
In the second quarter of this year, construction and industry fell by 0.5 percent, while overall economic growth for this period was only 2.3 percent, 0.7 percent less than the EBRD forecast.
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