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World Bank affirms Albania's 2024 GDP growth f'cast at 3.3%

Jun 12, 2024, 10:23:48 AMArticle by Genta Hodo
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June 12 (SeeNews) - The World Bank said it expects Albania's gross domestic product (GDP) to grow by 3.3% in 2024, maintaining its April projection.

World Bank affirms Albania's 2024 GDP growth f'cast at 3.3%
Photo: Genta Hodo for SeeNews

Albania’s economic growth is projected to accelerate slightly to 3.4% in 2025, The World Bank said in its new issue of the Global Economic Prospects report on Tuesday, affirming its April projection.

Albania's economy expanded by an estimated 3.3% in 2023.

From a regional perspective, the World Bank expects economic growth in the Western Balkans region to accelerate to 3.2% in 2024, from 2.5% estimated for 2023.

“Private demand is projected to be the main driver of growth, while the drag from weak net exports is expected to be less significant than in 2023, reflecting a pickup in exports alongside the euro area's recovery,” the World Bank said.

The new European Union growth plan is seen boosting the subregion’s economic integration and socioeconomic alignment, according to the World Bank.

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