April 18 (SeeNews) - Albania's economy is expected to grow by 3.1% in 2024, slowing down from 3.3% expansion last year, the International Monetary Fund (IMF) said on Thursday, decreasing its October forecast for 2024 by 0.2 percentage points (pp).
In 2025, Albania's gross domestic product (GDP) will increase by 3.4%, the IMF said in the April 2024 edition of its World Economic Outlook report published on Tuesday.
Average consumer price inflation in Albania is forecast to abate to 3.5% in 2024 and 3% in 2025, from 4.8% last year, the IMF said. The country is projected to close 2024 with a current account deficit of 3.8% of GDP, a tad higher compared to 3.7% in 2023.
The IMF also said it expects the economy of the Emerging and Developing Europe area will expand by 3.1% in 2024, increasing its October forecast by 0.9 pp. The economic output of the region grew by an estimated 3.2% last year.