Albania Economic Outlook
July 3, 2018Growth accelerated to 4.5% in Q1. The expansion was fueled by the industry, electricity and water; and retail trade, transport, accommodation and food services sub-sectors. In addition, labor market dynamics were healthy; the unemployment rate declined, while the participation rate rose. Momentum likely largely carried over into Q2. In the first two months of the quarter, exports rose at a double-digit pace and the trade deficit narrowed. However, the budget balance slipped into deficit in the year to May, compared to a surplus in the same period last year. In late May, the IMF urged renewed fiscal consolidation to trim the elevated public debt.
Albania Economic GrowthGrowth should remain healthy this year, thanks to a solid labor market, robust public investment and an ongoing expansion in private credit. The potential for drought, which could hit domestic electricity generation and increase energy imports, is a downside risk. Our panel expects growth of 3.8% in 2018, unchanged from last month, and 3.7% in 2019.
Albania Economy Data
5 years of Albania economic forecasts for more than 30 economic indicators.
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|Exchange Rate||118.1||-0.56 %||Jul 17|
|Stock Market||0.1||0.0 %||Jul 17|
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