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Ekonomia

The World Bank leaves unchanged the economic growth projection for Albania in 2022, lowers it by 1.3 percentage points in 2023

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The World Bank changed its forecasts for economic growth this year. In today's publication, "Social Protection for Recovery", the Bank announced that Albania's economy will grow by 3.2% this year, while in 2023 the growth rates will be 2.3%, a decrease of 1.2 percentage points compared to the spring forecasts. . In the Western Balkans, economic growth is expected to reach 3.4% this year. However, at this rate of growth, production may fully recover and surpass pre-pandemic levels, albeit with variations across countries. Growth is projected to remain at an average of 2.9% over the forecast horizon, as EU membership and investment reforms mitigate the negative impacts imposed by higher energy and food prices, disruptions in trade and investment. Pressures for higher electricity subsidies have increased in Albania, North Macedonia and Kosovo (World Bank 2022i). Bosnia and Herzegovina, North Macedonia (via the Bulgarian pipeline), and Serbia are completely dependent on Russia for gas supplies. However, Serbia's storage capacity has helped cushion shocks in the short term. In 2022, Russia cut off access to its natural gas exports to several Western Balkan economies, raising concerns about energy stability within the countries. Serbia's storage capacity has helped cushion shocks in the short term. In 2022, Russia cut off access to its natural gas exports to several Western Balkan economies, raising concerns about energy stability within the countries. Serbia's storage capacity has helped cushion shocks in the short term. In 2022, Russia cut off access to its natural gas exports to several Western Balkan economies, raising concerns about energy stability within the countries.

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