Oct 09 - A new report by the International Monetary Fund expects Albania's economy to grow by 0.7% in 2009 in a report just released. This is in the upper range of the 0.0-1.0% range forecast made in the spring. Also the IMF predicts growth will accelerate to 2.2% in 2010 with a healthy 6% expected in 2011, back to the mean growth of recent years.
Since the start of 2009 the finance ministry has maintained a more upbeat official forecast of 5.8% growth for 2009, which the central bank thinks too optimistic.
Long-serving Prime Minister Sali Berisha stated that his country was on the right course. Gross domestic product grew 6 percent in the first quarter of the year, and, unlike some of its neighbors, Albania has not needed a bailout.
“The effects of world financial crisis have influenced the Albanian economy, but there is no economic crisis here,” Mr. Berisha said.
This news is courtesy of www.property-abroad.com
