January 11 (SeeNews) - The World Bank said it expects Albania's gross domestic product (GDP) to increase by 2.2% in 2023, revising downwards its June projection for 3.5% economic expansion.
Albania's economy is estimated to have expanded by 3.5% in 2022, the World Bank said in its January 2023 Global Economic Prospects report published on Tuesday.
The World Bank expects Albania's economic growth to accelerate to 3.4% in 2024.
The Western Balkans' economies are seen expanding by 2.5% in 2023, following an estimated 3.1% regional economic growth in 2022.
"However, there is significant political uncertainty, with a risk that parliamentary impasses create delays in the implementation of reforms and thus prevent efficient absorption of related funds (Bosnia and Herzegovina, Montenegro, North Macedonia)," the global lender said.