EBRD predicts lower economic growth for Albania than IMF and Government

“The Albanian economy is growing with 2.5% this year, based on our evaluations. It is a slow recovery, coming from a long and difficult period. We hope that the economic growth in the months to come will grow bigger”, declared Christoph Denk, Director of the EBRD for Albania.

Denk says that besides the Eurozone crisis, there is also an internal weakening.

“The main cause is the external environment. Greece and Italy, the two main economic partners of Albania are in a difficult position. There are also internal factors. The economy should improve, the investment climate too. This was the reason why EBRD cooperated with the government to establish the Council of Investments”, Denk declared.

EBRD is a bank specialized to help economies in difficulites. In the past years they have invested in a series of sectors of the Albanian economy. Recently, as warned by the Prime Minister, EBRD had planned agricultural investments.

“We are discussing with the Albanian government to start a scheme for the agriculture. It is still early for the details. But I can tell you that EBRD is active in supporting the agriculture of some countries. We believe that this sector in Albania has huge potentials. This is why we would want to move in this direction”, Denk declared.

The agriculture is considered as one of the biggest potentials for increasing the revenues of families and national economies. Farmers suffer the lack of funds from the budget, not only public but also private ones, manifested by the low figures of loans that banks have given for this sector.

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