The European Bank for Reconstruction and Development expects economic growth this year in Albania to be 2.5%.

Unlike September, the forecast has decreased by 0.5 percentage points today.

Growth in 2023 reflects weak external demand, persistently high inflation and tight financing conditions. The region will also be on a similar trajectory, with Montenegro leading expectations at 3.3% and North Macedonia closing at 2%.

Meanwhile, for 2022, the EBRD declares that the Albanian economy grew by 3.7%.

According to the report, production in the EBRD region is expected to grow by 2.1 percent in 2023 as high gas prices and persistent inflation will weigh negatively on the economic outlook.

As for consumption, the European bank says that it was stable in Albania and the region, even though high prices and the fear of their further increase were present among families.

Consumption increased in our country, during the summer months, driven by the large number of tourists who visited Albania and the region in general. In 2024, the EBRD expects the economy to grow by 3.3%.