Albania leads in the region for economic growth and unemployment figures: Vienna Institute

This year, in the next one and in 2020, Albania will be the fastest growing economy in the Western Balkans, says Vienna Institute for Economic Studies, in a recently published report on Central and Eastern Europe.

For this year, the Vienna Institute projects an economic growth for the country at 4.1%, and for the next year at 4%, to then in 2020it is xpected to decrease at 3.9%.

New projections mark a devaluation of the Albanian economy.

In the previous report it was estimated that the country’s economy would grow by 4.2% this year and 4.1% next year.

So, there is a minimal depreciation of the projections, with only 0.1%.

Regarding the unemployment rate, the latest projections show that Albania will have the lowest rate in these three years, with 13%, 12.5% ​​and 12% respectively.

Despite the optimism of the Vienna Institute in terms of key macroeconomic indicators, a decline in unemployment of only 0.5% per year is minimal.

As far as the inflation rate is concerned, the projections remain unchanged.

The Vienna Institute is among the prestigious institutions that have attempted to overshadow the somewhat excessive optimism regarding the economic growth of the country.

Attracting foreign investment and leveraging new investments will result in a slowdown in growth, thus diverting the government’s much sought target of at least 5% economic growth, which according to the government will have a direct impact on the pockets of citizens.

SCAN

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