Page 24 - SE Outlook Regions 2024

2.0 Macroeconomic outlook 2.1 Macroeconomy - Albania
Albania key economic figures and forecasts
2016 2017 2018 2019 2020 2021 2022
Nominal GDP (EUR bn) 12.4 13.1 13.8 14.3 13.9 17.2 17.3
Real GDP (% y/y) 3.3 3.8 4.0 2.1 -3.5 8.9 4.9
Unemployment rate (avg, %) 16.4 13.6 12.3 11.5 11.7 11.4 11.8
Consumer prices (avg, % y/y) 1.3 2.0 2.0 1.4 1.6 2.0 6.7
Consumer prices (eop, % y/y) 2.2 1.8 1.8 1.1 1.1 3.7 7.4
General budget balance (% of GDP) -0.7 -1.4 -1.4 -2.0 -6.7 -6.7 -3.7
Public debt (% of GDP) 72.4 70.1 67.7 66.2 77.9 84.1 64.6
Current account balance (% of GDP) -7.6 -7.5 -6.7 -7.9 -8.8 -7.5 -5.9
Official FX reserves (EUR bn) 2.3 2.7 3.2 3.1 3.6 4.6 4.4eur
EUR/LC (avg) 137 134 128 123 123 122 119
Source: Thomson Reuters, RBI/Raiffeisen RESEARCH, World Bank, Instat, Bank of Albania
2.1.1 GDP growth
Albania’s economy has demonstrated remarkable resilience, emerging as one of the strongest performers in the region, the International Monetary Fund (IMF) said in a statement on October 27.
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