“Albania’s economy grew by 3.2 % in 2016, supported by strong domestic demand, ” World Bank stated, in the latest report titled” Trade in Transition “.
This report also cites that private investments in two major projects are sponsored by the foreign capital – the Trans-Adriatic Pipeline and a hydro power plant – and a recovery in private consumption stimulated this growth.
Additionally, World Bank highlighted that private consumption growth was driven by improvements in employment and easing credit conditions. Net exports contributed positively to growth, supported by tourism services, which was expanded by 25.4 %.
It is predicted the country to have a growth of 3.5 % during 2017-18 and grow further in 2019.
