TIRANA, March 23 /ATA// Quantitative projections about the impact of COVID-19 outbreak on economy remain unclear even in Albania.
However, the Ministry of Finance and Economy has conducted an assessment of the expected impact on the sectors of tourism, transport, trade, etc., and the temporary slowdown in investments and exports.
Based on this assessment, the Albanian Government reviewed the macroeconomic indicators adopted in the 2020 budget, channeling the budgetary resources to the most emergent sectors in the fight against COVID-19 and enabling support for the citizens.
As a result of the novel coronavirus shock to the economy, real economic growth of the country is projected for this year to go down to 2% from 4.1% planned in the initial budget.
“The forecast of economic growth, as well as all other macroeconomic variables, will be subject to ongoing revisions to clarify the dynamics of the situation,” sources from the Ministry of Finance and Economy say.
In addition, the Ministry of Finance and Economy says that it will closely follow the performance of key indicators, with the aim of gradually improving them and maintaining fiscal sustainability.
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