TIRANA, May 15 /ATA/ – Albanian economy is expected to grow by 3.3% in 2024, the European Bank for Reconstruction and Development (EBRD) said on Wednesday, upholding its September growth forecast.
“Tourism growth by 41% in the first two months of this year indicates a potential increase in private consumption, whereas stabilization of the national currency Lek against the euro could support exports growth,” EBRD said in its 2024 Regional Economic Prospect report.
In 2025, EBRD expects the Albanian economy to expand by 3.5%, in line with the projected global recovery.
“Inflation continued to ease in the past year, reaching a two-year low of 2.3 per cent in March 2024, and the authorities expect it to stay around the target band in 2024 and beyond,” EBRD said.
In the EBRD’s region of Western Balkans where Albania belongs, the EBRD expects economic growth to accelerate to 3.3% this year from 2.5% in 2023, slightly cutting its previous projection of 3.4% growth, as inflation moderates and construction activity increases throughout the region.
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