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"From investments to remittances", the World Bank predicts the growth of the Albanian economy

2023-10-06 11:05:58Biznes SHKRUAR NGA REDAKSIA VOX
"From investments to remittances", the World Bank predicts the growth
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In the last report published by the World Bank, an increase of 0.8% for Albania was revised. Expectations for economic growth in 2023 are projected at 3.6%, from 2.8% that was predicted in June of this year.

"The main factor in the stability of Albania is estimated to be the proximity to the European Union, which facilitates investments, remittances and exports. Construction and tourism are valued as catalysts of economic growth," the World Bank report reads.

Referring to current developments, the World Bank emphasizes that the main economic indicators suggest an acceleration of growth during the second and third quarter, with a record number of foreign visitors in July 2022 and an acceleration of construction activity.

The increase in income from employment as well as income from taxes suggest a further increase in the second and third quarters, as a result of the increase in consumption, investments and exports.

The World Bank predicts that the increase in tourism and construction activity is expected to push forward exports, consumption and investments to values ​​close to the period before the pandemic.


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