The World Bank said it has confirmed its projections for Albania’s economic growth at 3.5% in each of 2017 and 2018.
The bank increased the forecast for Albania’s gross domestic product (GDP) growth in 2019 by 0.1 percentage point, to 3.8%, compared to the projection made in January, the World Bank said in its June 2017 Global Economic Prospects report.
In 2016, Albania’s economy expanded by an estimated 3.2%, according to the report.
The World Bank affirmed its projection for the GDP growth of the Western Balkans region comprising Albania, Bosnia and Herzegovina, Kosovo, Macedonia, Montenegro, and Serbia, at 3.2% in 2017 and 3.9% in 2019. However, the bank lowered its forecast for 2018 by 0.2 of a percentage point to 3.5%.
The bank highlighted the geopolitical risks to growth within the region, given reemerging political tensions among Western Balkan countries.