wiiw Forecast Reports
ALBANIA: Impressive resilience in the face of external shocks
publication_icon
Ravik Mima
in: Sailing Through Rough Waters
wiiw Forecast Report No. Spring 2023, April 2023 , pp. 36-39
The Albanian economy displayed remarkable resilience in 2022, with a growth rate of 4.8%, driven by a bumper tourist season, robust FDI inflows and strong household consumption on the back of rising real incomes. Inflation was the lowest in the whole CESEE region, averaging 6.7%, but is still high by the country’s own standards. This year will be similar to 2022, with expected growth of 3.3% and inflation of 4%.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Albania