Albania Economic Outlook
July 2, 2019Economic growth likely slowed in the first quarter as suggested by available data. Building permits rose only tepidly in Q1 and power generation was anemic, while wages increased robustly and should have supported private consumption. Looking at the second quarter, trade data for April and May showed a pick-up in building materials and metals imports, suggesting the construction sector continued to gain traction. Trade data simultaneously showed a widening of the trade deficit on dropping exports owing to weakness in domestic power generation, while imports rose steadily. In politics, President Ilir Meta tried to cancel the 30 June local elections through a decree, only to be resoundingly rejected by Parliament, while a decision on EU accession talks has been postponed until October.
Albania Economic GrowthWhile political instability is likely to remain rampant, the economy should perform well this year on the back of a tightening labor market and low interest rates supporting private consumption. Power generation should also prove supportive, although potential droughts threaten the sector, and softening growth in the Eurozone further clouds the outlook. FocusEconomics panelists expect growth of 3.7% in 2019, which is down 0.1 percentage points from last month’s forecast, and 3.6% in 2020.
Albania Economy Data
5 years of Albania economic forecasts for more than 30 economic indicators.
Get a sample report showing our regional, country and commodities data and analysis.
|Exchange Rate||108.3||-0.56 %||Jul 11|
|Stock Market||0.1||0.0 %||Jul 11|
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.