The Albanian economy is forecast to grow by 8% this year, mainly due to construction, domestic trade, and consumption. The European Bank for Reconstruction and Development (EBRD) ranked Albania second among the six Western Balkan economies, in terms of Gross Domestic Product (GDP) growth.
According to EBRD, Albania’s economy is expected to grow by 8% this year. The recent report actually symbols a drop, as in June it had predicted that the economy would expand by 11.7%.
The report highlights that the main drive behind the positive growth was domestic trade, construction as well as consumption. The latter benefits largely from an upward trend in remittances.
Meanwhile, 2022 estimates point to a 3.7% GDP growth, supported by the construction sector and the emission of the Eurobond worth €700 million.
Compared to the rest of the region, Albania ranked second after Montenegro, while the countries with a slower growth were Bosnia and North Macedonia.
Unlike other institutions, EBRD points to a higher GDP growth rate.
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