Albania's economy is projected to grow by 2.2% in 2023, after expanding by 3.7% last year, the International Monetary Fund (IMF) said.
In 2024, Albania's gross domestic product (GDP) will increase by 3.3%, the IMF said in the April edition of its World Economic Outlook report published on Tuesday.
Average consumer price inflation is forecast at 5% in 2023 and 3.4% in 2024, compared to 6.7% last year, the IMF said.
Albania's current account gap is projected to slightly narrow to 7.7% of GDP in 2023 from 7.8% in 2022. In 2024, the current account deficit is expected to further decrease to 7.6% of GDP.
The IMF expects that the economy of the Emerging and Developing Europe area will expand by 1.3% in 2023, after growing by just 0.8% in 2022.
The IMF projected economic growth of 2.5% in 2023 for Albania back in October.