TIRANA (Albania), October 16 (SeeNews) – The International Monetary Fund (IMF) expects Albania’s economy to expand by a real 3.0% in 2019, down from a growth rate of 3.7% projected in April, it said.
Albania's economy is expected to grow by 4.0% in 2020 and 2024, respectively, the IMF said in the October 2019 edition of its World Economic Outlook report published on Tuesday.
The country's gross domestic product (GDP) grew by an estimated 4.1% in 2018, down from 4.2% estimated in April, according to the report.
The IMF also said that Albania's annual average consumer price inflation will accelerate to 2.2% in 2020 from 1.8% in each of 2019 and 2018, respectively.
Albania's 2019 current account deficit is projected to decrease to 6.6% of GDP from 6.8% in 2018. The current account gap is forecast at 6.4% of GDP in 2020 and 6.2% of GDP in 2024, the IMF said.