Albania: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Albania

Author: International Monetary Fund. European Dept.

2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Albania

Volume/Issue: Volume 2021 Issue 259

Publication date: December 2021

ISBN: 9781616356859

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Topics covered in this book

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Exports and Imports , Labor , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , economy firm , inflation expectation , fiscal policy support , Albanian economy , financing assessment , fund surveillance , IMF's transparency policy , Minimum wages , Global , Europe

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Summary

Albania’s economy has shown considerable resilience in the face of the 2019 earthquake and the pandemic. After the hardship endured in 2020, real GDP is rebounding strongly by a projected 7.8 percent in 2021. Policies have played a critical role in preserving lives and livelihoods and thereby paving the way for the recovery. The key challenges now are to invest efficiently in people and the economy to support the continued development of the country and to rebuild room for fiscal policy maneuver by lowering the very high fiscal deficit and public debt.