The World Bank reduced their predictions for the economic growth of
Albania, from 3.4% to 3.2%. The Chief Economist of the Bank in Tirana
explains the reason:
“The exporting firms are progressing less that we had predicted. This motivated the reduction or our prediction for 2016, and also for 2015 from 2.7% to 2.6^”, says Hilda Shijaku, Chief Economist of the World Bank for Albania.
Although the pace is slower than expected, the World Bank notes that the economy has kept recovering and the economic growth has been stronger each year.
“The highest growth has helped with the creation of new jobs, reducing unemployment with 1.9%. However, the unemployment rate is still very high. The most concerning part is that more than half of employed people have long-term jobs”, Shijaku explains.
But the growth effect in families has been modest, especially for reducing unemployment. Albania not only is listed lower than the other countries of the region, but is also progressing with a slower pace”.
“The poverty reduction tendency is lower than the average of the region”, the World Bank Chief Economist declared.
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