TIRANA (Albania), May 9 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has increased its forecast for Albania's economic growth in 2018 to 3.8% from 3.7% predicted in November.
Growth is being driven by private consumption and investment, EBRD said in its new Regional Economic Prospects report.
“The construction of two major energy sector projects is driving investment, although the direct economic impact on GDP is expected to decelerate in the short term before the economy starts enjoying the operational benefits of the two projects from 2020 onwards,” the report reads.
In 2019, the EBRD expects Albania's economic growth to pick up to 3.9%.
The EBRD expects economic growth in Southeast Europe (SEE) to stand at 3.6% in 2018 and at 3.5% next year.
In 2017, Albania’s economy expanded by 3.8%, compared with growth of 3.4% in 2016, according to EBRD estimates.