Albania’s economic growth is expected to slow down to 3.8% in 2022, after a 7.2% growth estimated in 2021, the World Bank said in its latest global economic prospects report, write Albanian Daily News
For 2021, the growth in the country is estimated at 2.8 pps higher than the forecast for June 2021. Compared to the countries in the region, Albania recorded the second-highest growth in 2021 after Montenegro (10.8%), followed by Kosovo (7.1%), Serbia by 6%, as well as Bosnia and Herzegovina and Northern Macedonia by 4% each.
According to the global lender, Albania’s economic growth is expected to further slow down to 3.7% in 2023.
In the Western Balkans, growth is projected to moderate to 4.1% in 2022 and 3.8% in 2023, the World Bank said, adding that the recovery is expected to lose momentum as the external boost fades and confidence is dented by rising policy uncertainty, particularly in Bosnia and Herzegovina.
