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Albania's economic growth to stay low in 2015

Xinhua, March 16, 2015 Adjust font size:

Albania's economy will stay on a low-growth trajectory in 2015 due to large government debt and a tepid economic outlook, a market research company said Monday. ' Household spending will be the main driver of GDP growth in real terms in 2015, UK-based market intelligence service Business Monitor International was quoted by Albanian Daily News as saying.

The report warned that the government's fiscal position will remain perilous, with public debt expected to remain above 70 percent of GDP.

Tepid external demand from key eurozone trading partners, inefficiencies in key export industries and collapsing global oil prices suggests Albanian exports will struggle in 2015, according to the report.

Albania's central bank will remain dovish in 2015, due to declining inflation expectations, weak bank lending and relatively subdued domestic demand, the report said.

Shaky debt dynamics, political infighting and elevated tensions with neighboring Serbia will persuade the EU against beginning formal EU accession talks with Albania this year, it added. Endi