Economic growth in Albania will be at the level of 2.5% for 2023. The forecast comes from the EBRD, which finds inflation as a hindering factor for stronger growth. Kosovo is expected to have the largest growth in the region with 3.5%.

Albania’s economy will grow by 2.5% in 2023, while in 2024 the growth will be 3.3%. This is the forecast of the European Bank for Reconstruction and Development (EBRD) in the projection made in the last report.

According to the report, production in the EBRD region is expected to grow by 2.2 percent in 2023, driven by inflation, which still remains at high levels despite the downward trend.

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.

EBRD forecasts cover developing countries on three continents. The economies of these countries are expected to expand by 2.2 percent in 2023, down slightly from the 2.3 percent forecast in February.

Growth is expected to accelerate to 3.4 percent in 2024, while inflationary pressures are gradually easing.

EBRD economists said lower growth rates this year were affected by the February earthquakes in Turkey, the expected tightening of lending conditions; delayed reforms in the Southern and Eastern Mediterranean and persistent inflation in Central Europe and the Baltic States.