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Albania's low inflation rate reflective of weak economy: report

Xinhua, March 14, 2016 Adjust font size:

Albania's low inflation rate reflects the economic challenges facing the country in recent years, Albanian Daily News reported on Monday.

The inflation rate of Albania fell to 1.9 percent by the end of 2015, said the newspaper, which cited experts as saying that the difficult economic situation since 2011 was largely due to external factors as well as government policies.

The reforms undertaken by the government also added to the challenges, it added.

Meanwhile, a report submitted by the supervisory board of the Bank of Albania said the country registered positive economic growth last year, though wage and corporate profit growth remained slow.

Figures from the Albanian Statistics Institute (INSTAT) last month showed that the country's economy grew 2.98 percent for the third quarter of 2015, and the first nine months registered an estimated growth rate of 2.7 percent.

The Bank of Albania has predicted that the Albanian economy would continue to see positive growth rates in the next three years. Endi