The World Bank says that Albania’s economic growth was accelerated in
2015 and is expected to be positive in the next three years.
In a recent report for the economies of the EU and Western Balkan, the World Bank lists two factors as the main cause for encouraging growth in our country. The improved business climate and increased exports, including the stabilization of consumption and consumer’s trust in job markets.
The World Bank notes that the fiscal consolidation is based on spending, while revenues did not reach the expectancies, despite new tax measures.
The reducing review of the economic growth with 2.7%, from 3% that it was initially, is related to two main factors for the WB: floods that damages crops and reduced oil production due to price drop in international markets.
The World Bank says that the poverty level was reduced in 2014 compared to 2012. Unemployment also went down to 17.3% in the second trimester of 2015.
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