Exclusive / Moody’s for Albania – The economy will decline by 1.5% this year, the effect will come from Italy

The Albanian economy will fall at a rate of 1.5% this year, says credit rating agency Moody’s, in its latest report on Albania, which comes at a time when the whole world is in crisis as a result of Covid- 19. The report is provided exclusively by Scan. Next year, meanwhile, a significant economic growth is expected, with a rate above 5%.

The IMF just two days ago, meanwhile, was talking about an economic recession of 5%. “Despite the low number of Covi-19 cases, we expect the Albanian economy to be significantly affected as a result of financial and trade ties with Italy,” Moody’s said.

The slowdown in the global economy will also greatly affect the textile and footwear sector, which is an important part of Albanian exports.

Among other things, the credit rating agency says that the Albanian economy grew by only 2.2% last year, with the slowdown that has come as a result of weather conditions on energy production, and indisputably as a result of the earthquake in 26 November.

Other projections show that inflation will rise to 2.5% this year, while public debt relative to Gross Domestic Product will reach 72.1%, up 3.5% from the previous year.

The opening of negotiations with the European Union on the other hand will support the country’s economy in the long run.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.