Albanian economy to grow by 2,9%, says World Bank

According to the World Bank’s forecasts, the Albanian economy is expected to grow by 2,9% in 2019 as opposed to an initial projection of 3,8%.

During the presentation of the report on Western Balkans this Tuesday, the World Bank warns that economic risks have grown.

These risks include electricity, PPPs, lack of structural reforms and political crisis.

“We expect the main contribution to come from consumption and investments, while trade deficit in energy is the main factor which has had a negative effect on trade deficit”, said Hilda Shijaku, World Bank senior economist in Albania.

Meanwhile, the World Bank seems to be more optimistic about employment, which hit an all time low at the end of the second quarter, namely 11,5%.

“Albania is the country with the participation of the largest labour force in the region, with 60,6%, however, it still has problems with the employment of young people and long-term employment, which indicates structural weaknesses. Albania is the country with the second highest public debt. This continues to remain a target, but the pace of fiscal consolidation during 2019 has slowed down”, also said the representative of the World Bank. TemA

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