INSTAT: Economic growth in 2014 was 1.9%. Prediction was 2.1%
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The Institution of Statistics (INSTAT) reported that the economy grew
with 2.42% in the fourth trimester of 2014, led by the construction
sector.
The INSTAT Director, Gjergji Filipi, listed the highest contributing sectors in the economic growth.
“The construction sector leads with 1.56%, other services with 0.95%, commerce-hotel-restaurants with 0.54%”, Filipi declared.
The construction sector has contributed with 65% of the economic growth in the fourth trimester, and the main reason was a concentration of public investments by the end of the year.
“This is due to the annual distribution of construction processes. As long as we compare the results with a former year, we reflect the pace of each trimester”, INSTAT Director declared.
Agriculture and communications have given negative results. The fourth trimester is the last one for 2014, allowing INSTAT to publish the preliminary annual economic growth.
“This is the first moment, but we have an annual evaluation for 2014 as regards VAT, an indicators that for 2014 shows a growth 1.89%”, Filipi declared.
The government and the IMF had foreseen a growth of 2.1% during 2014, from 1.9% that it resulted after the trimesters. However, INSTAT says that the figures refer to the VAT, which doesn’t include the contribution of taxes and subventions in the economy, and it might change in the months to come.
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