October 13 (SeeNews) - Albania's economy is expected to expand by 5.3% in 2021, the International Monetary Fund (IMF) said, improving slightly its April forecast.
In 2022, Albania's economic output is projected to grow by 4.5%, the Fund said in the October 2021 edition of its World Economic Outlook (WEO) report published on Tuesday.
The projection for this year's economic growth of Albania is lower that the forecast for 7.8% expansion an IMF made in a staff concluding statement following the 2021 Article IV mission to Albania earlier on Tuesday.
The Fund projected a 5% economic growth for Albania in 2021 in its April edition of the report.
Albania's consumer price inflation is expected to accelerate to 1.9% in 2021 and 2.3% in 2022 from 1.6% last year, the Fund said in its latest WEO report.
The country's current account deficit is seen shrinking to 8.6% of GDP this year and further to 8.3% of GDP in 2022, from 8.9% last year.
Albania's economy shrank by an estimated 3.3% in 2020, the Fund said.