Rama shrinks economic growth prediction
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On December 23rd, 2016, the Albanian Prime Minister, Edi Rama, declared that the economic growth would reach 5% within the next three years and then at 7% after the 1 billion EUR program.
However, in a document approved a few days ago, the Council of Ministers admits that the economic growth will remain under 4.5% until the end of this government term.
The Albanian economic growth has been very slow in the past decade. In 2013 there was a national stagnation, with the growth reaching 1%.
After 2013, the economic growth improved gradually reaching 3.9% in 2017, and the government foresees that this trend will continue with 4.2% until 2021 when it should reach 4.5% supported mainly by the population’s consumption, and also by investments.
But the IMF is more restraint. They say the economic growth of Albania will slow down to 3.7% this year, due to a withdrawal of several investments. For 2019-2022, IMF predicts a 3.9% growth.
This is the first time since the government and IMF do not agree about the growth, although the difference is small. But in the difficult economic environment created by the crisis of 2008, the uncertainty remains high even for these modest predictions.
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