According to the latest estimates from the World Bank, this year the Albanian economy is expected to grow by 3.6%, i.e. + 0.8% compared to the earlier forecast made in June. The WB report highlights that Albania’s economy, in the period 2019-2022, showed remarkable resilience to the difficult situation created by the earthquake, the pandemic […]
World Bank and IMF upgraded forecast for Albanian economic growth Read More »
According to the data of the Bank of Albania, in the first six months of the year, the number of foreign direct investments hit a new record, with a total value of 686 million euros (+ 7.9% compared to the same period in 2022). 51% of foreign direct investment is made up of reinvested profits,
Foreign investments in Albania: new historical record Read More »
International credit rating agency Standard & Poor’s (S&P) has reaffirmed Albania’s credit rating at “B+”. Concurrently, S&P has upgraded its outlook for Albania from “stable” to “positive”. The upward revision reflects the improvement of Albania’s fiscal indicators thanks to the government’s efforts to consolidate public finances and the strong expansion of the tourism sector. Despite
S&P reaffirms Albania’s credit rating at “B+”. Outlook from “stable” to “positive” Read More »
A team of the International Monetary Fund (IMF) led by Anke Weber, visited Albania last week in order to analyze the economic and financial situation and the political priorities. The Albanian economy has shown stability, managing to overcome the pandemic and energy crises, with a growth of 4.8% in 2022, higher than expected. Inflation gradually
IMF: Albania’s economy remains stable thanks to tourism and construction Read More »
2022 was a historic year for Albania, with over 7 million foreign tourists. Most of the arrivals were from Italy, Greece and Montenegro. Various markets have seen a significant growth in interest in visiting the Balkan country.The number of Polish and Dutch visitors has quadrupled, that of Spaniards has more than tripled, while the influx
Albania aims to become a year-round tourist destination Read More »
“Albania has emerged as an unexpected success story since the start of the Europe-wide economic crisis triggered by Russia’s invasion of Ukraine in February 2022.” Clare Nuttall, in a long article published on the international economic site intellinews.com, explains the rapid development of the Balkan country in recent years and the growth prospects. Albania is
Albania: one of the fastest growing European economies in the next three years Read More »
The US rating agency Moody’s Investors Service affirmed Albania’s B1 rating with a stable outlook. Analysts expect the country’s economy to continue to show resilience in 2023 and 2024 with a robust growth outlook, moderate fiscal strength, gradual reduction of public debt and balanced risks in the banking sector. The EU accession process is a
Moody’s affirms Albania’s B1 rating, mantains stable outlook Read More »
The economies of Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia and Serbia have surpassed pre-pandemic levels despite the aftermath of the war in Ukraine, rising energy and food prices and the tightening of financial measures, according to the latest edition of the “Western Balkans Regular Economic Report” published by the World Bank. Albania is
World Bank: Albania’s economy is the second-biggest in the Western Balkans Read More »
The mayor of Tirana, Erion Veliaj, presented the Technological and Economic Development Zone of Tirana (TEDA), developed in cooperation between the government and the municipalities. TEDA Tirana will be built in the urban area of Kashar, along the road axis that connects the capital to Durres, on an initial surface of 35 hectares, with a
Tirana set to launch call for tenders in the new free economic zone Read More »
The Albanian government has approved the financing agreements with the European Commission relating to the annual action plans for 2022 and 2023 under the instrument for Pre-Accession Assistance (IPA) III. The IPA22 program provides a comprehensive financing of 82.6 million euros to support the following projects: • “EU for Water” (29 million EUR), aimed at
The European Union will support Albania with more than 162 million euros Read More »