European Commission: “Growth based on prediction. Consumption and employment grew”

In the recent report for candidate countries, the Commission noted that the economic growth has profited from the internal demand.

“All components of the internal demand contributed positively for the growth of national production”, says the Commission.

The report notes that family spending accelerated during the second month, by growing with 4%. Investments continued to grow, although with a slower pace than the previous trimesters, with 4.4%. According to the Commission, the increased growth was accompanied by reduced unemployment.

The job market recorded improvement in April and June, reinforcing the positive tendency of the previous trimesters, according to the European Commission.

According to INSTAT, unemployment dropped to 15.9% during the second trimester, which is the lowest in three years. As for the budget, the European Commission notes that the revenue growth and low spending contributed with a budget surplus of 0.9% of the GDP.

However, according to the report, the public debt grew from 70.4% during the first trimester, to 70.9% in the second trimester, due to the currency exchange rate.

Besides the debt, another concerning area is the slow growth of business crediting and the high level of problematic loans, an indicator for which Albania and Serbia have the worst data in the region.

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