TIRANA, April 13 – Albania is projected to have one of the highest growth rates among 12 emerging and developing European economies, the International Monetary Fund unveils in its April World Economic Outlook Database.
The report shows Albania annual growth is projected to range between 3 to 4.5 percent annually from 2015 to 2020 the highest among western Balkan countries and Turkey.
However, Albania’s GDP per capita in 2014 is estimated at $4,781, ranking better only compared to Bosnia and Herzegovina’s $4.643.
The IMF which is assisting the Albanian government with reforms supported by a Euro 331 million loan, expects Albania’s public debt to drops from 73 percent of the GDP in 2015 to around 60 percent in 2018 and 50 percent by 2020.
Inflation rate is expected to accelerate from 1.8 percent in 2015, to 2.5 percent in 2016 and at around 3 percent in the 2017-2020 period, remaining within the central bank’s 3 percent target which is estimated to have a positive impact on consumption and investments.
The IMF expects Albania’s exports to considerably slow down in the next six years, with annual growth in volume ranging between 5 to 8 percent.
Growth in emerging and developing Europe is projected to rise slightly from 2.8 percent in 2014 to 2.9 percent this year and to 3.2 percent in 2016.
Lower oil prices and the gradual recovery in the euro area are expected to provide a lift to the
Region, says the IMF in its latest forecast.
