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GDP growth is expected to increase progressively over the next three years; increasing by 2% in 2015, 2.2% in 2016 and 2.4% in 2017. The economy might benefit from a resolute reform in the energy sector and growth in gross fixed capital formation stemming mainly from foreign direct investment in energy infrastructure. Nonetheless, with government and household consumption failing to thrive, the country’s economy still begrudges the growth rates achieved in 2010 and earlier years.
|Main Economic Indicators||2012||2013||2014||2015||2016||2017|
|Population, 1000 persons.||2900||2897||2894||.||.||.|
|GDP, real change in %||1.6||1.4||1.5||2.0||2.2||2.4|
|GDP per capita (EUR at PPP)||7400||7500||7700||.||.||.|
|Gross industrial production, real change in %||15.7||28.3||1.9||.||.||.|
|Unemployment rate - LFS, in %, average||13.4||15.9||17.5||17.5||17.5||17.5|
|Average gross monthly wages, EUR||270||259||264||.||.||.|
|Consumer prices, % p.a.||2.0||1.9||1.6||1.5||1.7||1.7|
|Fiscal balance in % of GDP||-3.4||-4.9||-5.2||.||.||.|
|Public debt in % of GDP||62.0||70.2||69.8||.||.||.|
|Current account in % of GDP||.||-10.7||-13.0||-13.6||-13.7||-13.7|
|FDI inflow, EUR mn||.||945||878||.||.||.|
|Gross external debt in % of GDP||57.4||63.5||66.6||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
ALBANIA: New energy for the economy
in: A Time of Moderate Expectations
wiiw Forecast Report No. Spring 2015, March 2015 , pp. 85-88 Details and Buy
Monthly Report No. 7-8/2014
Vasily Astrov, Rumen Dobrinsky, Vladimir Gligorov, Doris Hanzl-Weiss, Peter Havlik, Mario Holzner, Gabor Hunya, Michael Landesmann, Sebastian Leitner, Leon Podkaminer, Sandor Richter and Hermine Vidovic
wiiw Monthly Report No. 7-8, July 2014
23 pages including 1 Table and 2 Figures