TIRANA, Sept. 28, 2022 – Albania’s economy will grow by 3 percent in 2022, according to the latest forecast by the European Bank for Reconstruction and Development,
The bank is also projecting a 3 percent growth in GDP for 2023 as well, which is 0.3 percent lower than the EBRD’s forecast back in May.
Albania’s economy grew by 8.5 percent in 2021, rebounding after pandemic reopening and after shrinking by 3.3 percent in 2020.
Growth projections by several international institutions were higher for both Albania and the region in the post-pandemic recovery, but they were lowered as uncertainty following Russia’s invasion of Ukraine and increasing inflation worldwide.
The Western Balkans’ growth projection mirrors that of Albania, with the EBRD predicting economic growth of 3.2 percent in 2022 and 3 percent, according to the EBRD’s September Regional Economic Prospects report.
