The global lender has reduced its 2024 and 2025 projections by 0.1 percentage points, forecasting that Albania’s economic growth will reach 3.2% in each of the next two years, according to the fall 2023 World Bank Europe and Central Asia Economic Update report published on Thursday.
From a regional standpoint, the World Bank expects that growth in the Western Balkans will decelerate to 2.5% in 2023, compared to the 3.2% expansion recorded in 2022.
“Consumption remained resilient in Albania, Kosovo, and Montenegro, boosted by the strong recovery in tourism, while activity weakened in Bosnia…