Albanian economic growth to be 3.2 pct in 2016: World Bank report
Xinhua, September 27, 2016 Adjust font size:
The World Bank projects Albania's 2016 economic growth to be 3.2 percent, up from 2.8 percent in 2015, and forecasts it reaching 3.5 percent by 2018, according to the latest Southeast Europe Regular Economic Report (SEERER) presented here Tuesday.
World Bank representative Tahseen Sayed declared during the presentation of the report that the accelerating growth was helping improve employment in Albania and was working to drive down poverty in the region.
Along with reviving consumption, private investments supported by large projects in the energy sector are expected to lead the economic recovery in Albania, contributing to two thirds of the recovery over 2016 to 2018, the World Bank report noted.
On the other hand, the World Bank representative underlined that although the Albanian economy has marked a positive performance, the political instability might directly affect the economic development.
Sayed also put the emphasis on the further improvement of the business climate and measures to attract more foreign investors.
Albania is an attractive country but more work should be done to create a more favorable environment for investments, the World Bank representative said. Endit