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The World Bank report estimates that Albania will have an economic growth of 3.8 percent this year.
Slower growth is projected worldwide while in 2021 there were much higher figures. In Albania it was 7.2 percent or 2.8 percentage points higher than the forecast of June 2021. Of the countries in the region, Albania had in 2021 the second highest growth after Montenegro with 10.8%, but this country also marked the decline high in 2020, followed by Kosovo with 7.1 percent, Serbia with 6 percent, Bosnia and Herzegovina and northern Macedonia with 4 percent each.
According to the World Bank, the world economy is simultaneously facing Covid 19, inflation and policy uncertainty, government spending and monetary policy in unexplored territories. “Rising inequality and security challenges are particularly detrimental to developing countries. Putting more countries on a favorable growth path requires coordinated international action and a comprehensive set of national policies“, Said the President of the World Bank Group, David Malpass.
According to the report, the medium-term growth of Albania and Northern Macedonia could be driven by the acceleration of structural reforms in preparation for EU membership, given that this process is not further delayed.
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