Berzh worsens projections – “Albanian economy will fall by 9% this year, will recover by 12% in 2021”
The Albanian economy will fall at a rate of 9% this year, to recover next year with a 12% increase, predicts the European Bank for Reconstruction and Development in the latest report on the region where it analyzes the Albanian economy. This projection is the most pessimistic among international institutions regarding the impact of the current crisis on the Albanian economy. The World Bank, the International Monetary Fund and the European Commission predict an economic recession of 5%.
The weight of inflation in the domestic economy makes the impact of Sars-cov-2 in our economy even greater in the short term. Not in vain, Albania and Montenegro are the two countries of the Western Balkans where the recession this year will be deeper. For Kosovo, the economic decline is projected at 5%, also among the highest rates in the region, mainly due to the decline in remittance flows, says Berzh.
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