April 14 (SeeNews) - The International Monetary Fund (IMF) said on Tuesday it expects Albania's economy to contract by 5% in 2020 as a result of the coronavirus pandemic.
The economy is then projected to rebound to an 8% growth in 2021, the IMF said in its April 2020 World Economic Outlook report.
The average consumer price inflation is seen at 2.6% in 2020 and 2.9% in 2021, the IMF said.
Albania's current account deficit calculated as percentage of GDP is forecast at 11.2% in 2020 and 8.1% in 2021.
The IMF also said it expects Albania's government borrowing to reach 5.4% of GDP in 2020, before narrowing to 3.1% of GDP in 2021.