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Albanian economy marks highest growth in region for 2016: World Bank

Xinhua, April 6, 2017 Adjust font size:

The gross domestic product (GDP) of Albania registered a growth of 3.5 percent in 2016, the highest rate in the region, the World Bank said in its economic report for the Western Balkans published here on Thursday.

According to World Bank data, regional economic growth in 2016 was 2.8 percent, while an increase of 3.2 percent is projected over 2017.

Albania's growth in 2017 is projected to be around 3.2 percent, Ellen Goldstein, World Bank country director for the Western Balkans said during a presentation of the report in the Albanian capital.

According to World Bank representatives, Albania marked economic progress, while fiscal consolidation continued to grow in the past year.

Albania had vigorously implemented reforms, Goldstein told reporters, but political tensions still posed an internal risk to the economy, as did external risks coming from international factors.

The growth projection could change if the political crisis escalated, the World Bank representatives said. Endit