Albania’s economic growth revised at 1.77% for 2014 and at 2.23% for 2015

Albanian economy has grown in recent years less than the previous estimates had forecasted.

The Institute of Statistics released on Wednesday the final data on Gross Domestic Product in 2014 and the semi-final data for 2015.

According to INSTAT, in 2015 the Albanian economy grew by 2.23%, while the previous estimate, based on quarterly statistics, had been for an annual economic growth of 2.61%.

In similar proportion is the correction of economic growth for 2014.

In the preliminary statistical report, INSTAT reported an economic growth of 2.02%.

While in the final data it turns out that the economic growth of 2014 was in fact only 1.77%.

For 2016, the first INSTAT data showed a 3.46% increase, however, the final increase will be known only after two years.

The revision of Gross Domestic Product data, up to the final reports, is a normal process in the preparation of statistics.

In a similar way act Eurostat and specialized statistics institutions that operate in other countries.

This is because accurate calculation of gross domestic product is a voluminous process that requires years of work.

However, what is apparent in recent years is that the final data generally yield lower values ​​from the preliminary estimates.

Without prejudicing INSTAT’s work, this may be indicative of a direct or indirect political pressure, for more positive figures of economic growth.

What can be said today is that, although the gradual recovery of economic growth is confirmed, this recovery has actually been slower than the first statistics have shown.

SCAN

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