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Ekonomia

Albania will have the lowest economic growth in the region, EBRD: We expect 4.5 percent growth, a new wave of pandemics would be fatal

Albania will have the lowest economic growth in the region, EBRD: We expect 4.5

Albania is expected to have the lowest economic growth in the region. The Vice President of the European Bank for Reconstruction and Development, Jurgen Rigterink, in an interview with Monitor magazine, said that the EBRD expects us to have economic growth of up to 4.5 percent this year. He said that this increase will be lower than the average rate for the entire Western Balkans region, which is projected at 5.1 percent. "Trends in Albania are similar to those in the Western Balkans Region, household consumption is expanding, growing global demand is boosting exports of goods and the tourism sector is gradually recovering from the lowest levels of a year ago. In Albania, investment growth is strong, due to ongoing post-earthquake reconstruction activities. Mitigating fiscal and monetary policies are supporting economic recovery. "We expect GDP in Albania to expand by about 4.5% this year, slightly lower than the average rate for the entire Western Balkans region, which is projected at 5.1%," he said. Among other things, while talking about the impact that another pandemic wave could have in our country as well as in the countries of the Western Balkans, he said that another wave, according to him, would be fatal. Rigterink stressed that another wave of pandemics could disrupt remittances that are important for the livelihood of Albanian families. "Another pandemic wave could severely affect international travel conditions and foreign demand for Albanian products, as more than 75% of Albanian exports are destined for EU markets. Also,

Economic performance during the pandemic

Asked about the performance of the economy in our country as well as in the Western Balkans during the pandemic, the Vice President of the European Bank for Reconstruction and Development, Jurgen Rigterink, said that the countries of the Western Balkans withstood the impact of the pandemic. According to him, Albania was affected by travel restrictions within the country, as well as international ones. "The Western Balkans as a whole have withstood the effects of the pandemic relatively well. Gross Domestic Product (GDP) shrank on average by 3.2% in 2020. However, the extent of the impact and the transmission channels varied between countries. "Albania and Montenegro, which are highly dependent on tourism, were mainly affected by restrictions on domestic and international travel," he said. Sakaq, vice. president of the European Bank for Reconstruction, also announced some of the investment plans that the European Bank has for Albania. He said that the focus will be on the consequences left by the pandemic, as well as a loan of 100 million euros to make it possible to alleviate the banking crisis. "In 2020 and 2021, our focus has been, to some extent great, in controlling the immediate consequences of the Covid pandemic, supporting the liquidity of our customers and the resilience of the banking system and services, which provide vital infrastructure. "In Albania, among the main projects this year is a standard loan of 100 million euros for the Deposit Insurance Agency to mitigate the impact of the crisis on the banking industry," he said. as well as a € 100 million loan to help alleviate the banking crisis. ”In 2020 and 2021, our focus has been, to a large extent, on controlling the immediate consequences of the Covid pandemic, supporting our customers and the resilience of the banking system and services, which provide vital infrastructure. "In Albania, among the main projects this year is a standard loan of 100 million euros for the Deposit Insurance Agency to mitigate the impact of the crisis on the banking industry," he said. as well as a € 100 million loan to help alleviate the banking crisis. ”In 2020 and 2021, our focus has been, to a large extent, on controlling the immediate consequences of the Covid pandemic, supporting our customers and the resilience of the banking system and services, which provide vital infrastructure. "In Albania, among the main projects this year is a standard loan of 100 million euros for the Deposit Insurance Agency to mitigate the impact of the crisis on the banking industry," he said. that provide vital infrastructure. "In Albania, among the main projects this year is a standard loan of 100 million euros for the Deposit Insurance Agency to mitigate the impact of the crisis on the banking industry," he said. that provide vital infrastructure. "In Albania, among the main projects this year is a standard loan of 100 million euros for the Deposit Insurance Agency to mitigate the impact of the crisis on the banking industry," he said.