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The EU Member States granted Albania the status of an official membership candidate on 24 June 2014. Due to the new government’s austerity policy we expect domestic demand to stay rather depressed for the years to come. This is one of the main reasons why we have decided to reduce the outlook for GDP growth for 2014 to 1.3%. Our forecast for 2015 remains at 1.5% and we expect GDP growth in 2016 not to surpass 1%.
|Main Economic Indicators||2011||2012||2013||2014||2015||2016|
|Population, 1000 persons.||2905||2900||2897||.||.||.|
|GDP, real change in %||2.5||1.6||0.5||1.3||1.5||0.9|
|GDP per capita (EUR at PPP)||7500||7800||7900||.||.||.|
|Gross industrial production, real change in %||25.5||46.2||27.2||.||.||.|
|Unemployment rate - LFS, in %, average||14.0||13.4||15.6||15.0||15.0||15.5|
|Average gross monthly wages, EUR||260||268||291||.||.||.|
|Consumer prices, % p.a.||3.4||2.0||1.9||1.0||1.0||1.0|
|Fiscal balance in % of GDP||-3.6||-3.4||-4.7||.||.||.|
|Public debt in % of GDP||58.6||60.9||70.0||.||.||.|
|Current account in % of GDP||-13.2||-10.2||-10.4||-9.5||-8.8||-7.8|
|FDI inflow, EUR mn||630||666||923||.||.||.|
|Gross external debt in % of GDP||53.5||57.4||57.9||.||.||.|
Basic data are continuously updated.
* Forecasts are changed beginning of March, July and November.
See Press Conferences.
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 Details
ALBANIA: INSTAT replay
in: Investment to the Rescue
wiiw Forecast Report No. Spring 2014, March 2014 , pp. 89-90 Details and Buy