Albania
| FORECAST* | ||||||
|---|---|---|---|---|---|---|
| Main Economic Indicators | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Population, 1000 persons | 2838 | 2812 | 2760 | . | . | . |
| GDP, real change in % | -3.3 | 8.9 | 4.8 | 3.3 | 3.8 | 4.0 |
| GDP per capita (EUR at PPP) | 9210 | 10300 | 11230 | . | . | . |
| Gross industrial production, real change in % | -6.3 | 26.2 | 2.8 | . | . | . |
| Unemployment rate - LFS, in %, average | 11.7 | 11.5 | 10.9 | 10.5 | 10.0 | 9.5 |
| Average gross monthly wages, EUR | 434 | 467 | 520 | . | . | . |
| Consumer prices, % p.a. | 1.6 | 2.0 | 6.7 | 4.0 | 3.0 | 2.5 |
| Fiscal balance in % of GDP | -6.7 | -4.6 | -3.7 | -2.5 | -2.5 | -2.5 |
| Public debt in % of GDP | 74.3 | 74.5 | 64.6 | . | . | . |
| Current account in % of GDP | -8.7 | -7.7 | -6.0 | -5.9 | -5.8 | -5.8 |
| FDI inflow, EUR m | 937 | 1032 | 1372 | . | . | . |
| Gross external debt in % of GDP | 64.2 | 64.4 | 54.6 | . | . | . |
Basic data are continuously updated.
* Forecasts are changed beginning of January, April, July and November.
See Press Conferences.
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Executive summary
Olga Pindyuk
in: Sailing Through Rough Waters
wiiw Forecast Report No. Spring 2023, April 2023 , pp. I-VI
Details
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Monthly Report No. 4/2023
Vasily Astrov, Olga Pindyuk, Maryna Tverdostup and Sergey Utkin
wiiw Monthly Report No. 4, April 2023
53 pages including 2 Tables and 33 Figures
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%.