{"id":35674,"date":"2022-05-04T12:43:05","date_gmt":"2022-05-04T10:43:05","guid":{"rendered":"https:\/\/euronews.al\/en\/?p=35674"},"modified":"2022-05-04T12:43:05","modified_gmt":"2022-05-04T10:43:05","slug":"world-bank-increased-prices-affect-low-income-families","status":"publish","type":"post","link":"https:\/\/euronews.al\/en\/world-bank-increased-prices-affect-low-income-families\/","title":{"rendered":"World Bank: Increased prices affect low-income families"},"content":{"rendered":"<p class=\"MsoNormal\">The price crisis will affect low-income families and increase poverty.<\/p>\n<p class=\"MsoNormal\">This was the forecast of the World Bank in its latest <a href=\"https:\/\/openknowledge.worldbank.org\/bitstream\/handle\/10986\/37368\/P17720607706c30e90841607b7d53ee8106.pdf?sequence=1&amp;isAllowed=y\"><strong>Spring 2022<\/strong> Western Balkans Regular Economic report<\/a>, where it also estimated the economy to shrink to 3.2%.<\/p>\n<p class=\"MsoNormal\">Albanian families spend half of their income on food and electricity bills. But as these expenses go up, as repercussions of the war in Ukraine, the first to feel the immediate impact are families with a low income.<\/p>\n<p class=\"MsoNormal\">According to the WB, the main challenge ahead for Albania is about handling the crisis.<\/p>\n<p class=\"MsoNormal\">\u201cEconomic growth is expected to decelerate to 3.2 percent in 2022 under the baseline scenario,\u201d the report noted.<\/p>\n<p class=\"MsoNormal\">\u201cPrivate consumption is projected to return as the primary driver of GDP growth,\u201d it added.<\/p>\n<p class=\"MsoNormal\">Investments can continue to support economic growth if reforms for the improvement of the business climate are implemented properly.<\/p>\n<p class=\"MsoNormal\">According to the international financial institution, inflation will remain high this year, and it will not stop next year either.<\/p>\n<p><strong>YOU MIGHT ALSO LIKE<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/euronews.al\/en\/programs\/barometer\/2022\/04\/21\/government-aid-for-the-crisis\/\">Do Albanians know about the government aid on the crisis?<\/a><\/li>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/programs\/shock\/2022\/03\/24\/ramas-ministers-incapable-of-crisis-management-claim-analysts\/\">Rama\u2019s ministers incapable of crisis management, claim analysts<\/a><\/strong><\/li>\n<li><strong><a href=\"https:\/\/euronews.al\/en\/albania\/2022\/03\/24\/democrats-unveil-10-point-plan-aimed-at-tackling-price-hike-crisis\/\">Democrats unveil 10-point plan aimed at tackling price hike crisis<\/a><\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The price crisis will affect low-income families and increase poverty. This was the forecast of the World Bank in its latest Spring 2022 Western Balkans Regular Economic report, where it also estimated the economy to shrink to 3.2%. Albanian families spend half of their income on food and electricity bills. But as these expenses go [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":35675,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[153],"tags":[270,150,151,1347,796,1348,326,1349],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World Bank: Increased prices affect low-income families - Euronews Albania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/euronews.al\/en\/world-bank-increased-prices-affect-low-income-families\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank: Increased prices affect low-income families - Euronews Albania\" \/>\n<meta property=\"og:description\" content=\"The price crisis will affect low-income families and increase poverty. This was the forecast of the World Bank in its latest Spring 2022 Western Balkans Regular Economic report, where it also estimated the economy to shrink to 3.2%. Albanian families spend half of their income on food and electricity bills. 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