Albania Economic Outlook
October 4, 2016The Albanian economy continues to be supported by private investments in large infrastructure projects and robust private consumption fueled by improvements in the labor market. The government’s commitment to fiscal consolidation is bearing fruit and the fiscal deficit will likely be reduced significantly this year. According to a recent report by the World Bank, relatively low levels of inflation coupled with improved conditions in the labor market have boosted the purchasing power of the poorest households, thus facilitating a faster reduction in poverty. Following the acceleration in the first quarter, the Albanian economy performed strongly in the second quarter. The unemployment rate hit a record low and the Economic Sentiment Indicator compiled by the Bank of Albania improved in Q2 due to an increase of confidence in the services and construction sectors.
Albania Economy Data
5 years of Albania economic forecasts for more than 30 economic indicators.
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|Exchange Rate||125.2||0.47 %||Oct 20|
Albania Economic Growth
October 4, 2016In 2016, the economy will benefit from increasing private consumption and a decline in precautionary saving behavior. Our panel expects the economy to expand 3.3% in 2016 and 3.6% in 2017.