Inflation in Albania will reach 6.2% in 2022

TIRANA (Albania), October 12 (SeeNews) – Average annual consumer price inflation in Albania is expected to reach 6.2% in 2022, before slowing to 4.3% in 2023, the International Monetary Fund announced ( IMF).

The country’s current account deficit is expected to reach 8.6% of GDP this year, from 7.7% last year, before narrowing to 8% of GDP in 2023, the Fund said in the edition of October of its World Economic Outlook (WEO) report released on Tuesday. .

Last year, consumer price inflation in Albania was 2%.

The IMF expects Albania’s economy to grow by 3.7% in 2022, driven by robust activity in tourism, real estate and services, the fund said on Monday following the conclusion of consultations. under Article IV with Albania.

In its WEO report, the IMF said it expects the economy of the emerging and developing Europe area to stagnate in 2022, before growing slightly by 0.6% in 2023. The region includes Bosnia, Romania , Turkey, Bulgaria, Serbia, Croatia, Albania, Kosovo, Moldova, Montenegro and North Macedonia.

The global economy is expected to grow 3.2% in 2022 and slow to 2.7% in 2023 as it continues to face challenges from the Russian invasion of Ukraine, lingering inflationary pressures and growth and slowdown in China, the IMF said.

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