economic outlook-revision-upwards – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Sat, 19 Oct 2024 13:42:47 +0000 en-US hourly 1 Moody’s revises Albania’s economic outlook upwards, Malaj : It is attributed to reduction of debt and increase in investments https://en.ata.gov.al/2024/10/19/moodys-revises-albanias-economic-outlook-upwards-malaj-it-is-attributed-to-reduction-of-debt-and-increase-in-investments/ https://en.ata.gov.al/2024/10/19/moodys-revises-albanias-economic-outlook-upwards-malaj-it-is-attributed-to-reduction-of-debt-and-increase-in-investments/#respond Sat, 19 Oct 2024 13:30:46 +0000 https://en.ata.gov.al/?p=247219 TIRANA, Oct 20 /ATA/ The prestigious international rating agency Moody’s has revised the Albanian economy’s outlook upwards, now rating it as Ba3-stable, up from B1-positive.

Minister of Finance Petrit Malaj confirmed this rating increase, describing it as good news for the Albanian economy and proof positive of all efforts to ensure sustainable economic growth, further strengthen public finances, and achieve greater efficiency in implementing reforms toward European integration.

In a media statement, Malaj said that the positive review for the Albanian economy comes at a time when the global economy is facing overlapping challenges related to geopolitics, digitalization, and climate change.

According to him, this positive assessment confirms, above all, that Albania is on the right path regarding reforms within the framework of integration, ensuring good governance, and further strengthening public finances.

“The benefits that come from this assessment are concrete: Growth will bring a positive evaluation regarding foreign investments by increasing trust among foreign investors. Additionally, Albania will benefit from international markets by securing loans at lower financing costs,” the minister stated.

Malaj stated that “this means that the Albanian economy will be stable even in the medium term.”

Focusing on the rising economic indicators, the minister noted that over a 10-year period, GDP has more than doubled, increasing from 9.6 billion euros in 2013 to 21.4 billion euros by the end of 2024.

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