The latest report from the European Commission (EC) highlights the growth trend of the Albanian economy in the first half of 2024, with an increase in real gross domestic product (+ 4.1%). Next year economic growth is expected to be 3.8%, supported by tourism, private consumption, strong credit growth and stable financial conditions. Inflation has […]
EC report: the Albanian economy is expected to continue growing Read More »
This year, Albania will benefit from the first funds of the Growth Plan for the Western Balkans that the European Commission (EC) approved on 8 November 2023. The total value is six billion euros, two of which will be disbursed in the form of grants, while the remaining four in the form of loans. The
EC: first funds from the EU Growth Plan for the Western Balkans Read More »
Stronger public finances and the implementation of reforms aimed at accelerating accession to the European Union have led the US agency Moody’s to upgrade Albania’s credit rating from “B1-positive” to “Ba3-stable”. Moody’s has positively assessed the reduction in public debt, which is expected to fall to 54.3% of GDP by 2025 and below 50% by
Moody’s upgrades Albania’s rating from “B1-positive” to “Ba3-stable” Read More »
Official data from the INSTAT Institute of Statistics indicate that Albania’s economy grew by around 4% in the first half of 2024, with revenues amounting to 1.9 billion euros. Growth has been particularly prominent in the months of April, May and June thanks to the good performance of tourism sector, construction, trade and hospitality industry.
Albania’s GDP rose 4% in the first half of 2024 Read More »
The economic performance of Albania and the main macroeconomic indicators in the first half of 2024 have been positively assessed by the International Monetary Fund. The Minister of Finance and Economy, Ervin Mete, explained to the head of the IMF mission for Albania, Anke Weber, the country’s economic evolution, underlining the progressive reduction of public
IMF positively assesses Albania’s “sustainable economic growth” Read More »
For the first time since 2022, the Bank of Albania has decided to cut the base interest rate from 3.25% to 3%. This decision was taken after the approval of the interim report on monetary policy for the second quarter of 2024 and data on the slowdown in inflation above expectations. The Supervisory Board considered
The Bank of Albania has cut the interest rate by 0.25 points Read More »
In its annual report, the Bank of Albania presented data on the performance of the national economy and the banking system. As the governor of the central bank, Gent Sejko, underlined, Albanian economy grew by 3.4% in 2023 thanks to the increase in exports, tourism and foreign direct investments. These factors, combined with the increase
Bank of Albania: economy is expected to accelerate in the coming years Read More »
Among the countries of the Western Balkans, Albania will have the highest growth level, 3.8% in 2024. The Financial Stability Report issued by the Bank of Albania highlights that growth will be less than 3% across the region, excluding Serbia. The tourism services sector and foreign investments contribute above all to the good performance of
Albania will have the highest level of growth in the Western Balkans Read More »
In the report published on April 19, 2024, the international credit rating agency Moody’s confirmed Albania’s B1 rating and improved the outlook from “stable” to “positive”. This improvement is due to the possibility of a better-than-expected fiscal scenario and the macroeconomic stability that has allowed the country to overcome three consecutive crises in the last
Moody’s upgrades Albania’s outlook from “stable” to “positive” Read More »
According to data from the Bank of Albania, in 2023 foreign investment reached the figure of 1.5 billion euros, with an increase of 8.7% compared to the previous year. In the period 2022-2023, there was a strong increase in real estate purchases by foreigners, while previously foreign investment was made in major projects such as