wiiw Current Analyses and Forecasts
Albania: Deleveraging and improved business confidence – unity and conflict of opposites
in: Animal Spirits still Dimmed: Slow Recovery Expected
wiiw Current Analyses and Forecasts No. 12, July 2013 , pp. 119-120
In Albania the deleveraging process will act as a drag on economic development in the years to come. This is also one of the reasons for having corrected downwards our GDP growth forecast for 2014: from 3.3% to a mere 2.5%. Interestingly, the most recent business and consumer confidence survey results for the first quarter of 2013 show a further improvement in the overall economic sentiment indicator. The construction sector, in particular, has recently experienced a substantial improvement in confidence after years of deterioration. The above contradictory developments lead us to expect a GDP trend growth rate of around 3% for 2015 and beyond.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Albania