World Bank raises Albania’s 2017 growth forecast

The World Bank has raised its projection for Albania’s economic growth in 2017 to 3.6% from 3.5% projected in June.

“Private investment in two large FDI-financed energy projects – the Trans-Adriatic Pipeline and a hydropower plant – and a recovery in private consumption drove growth,” the World Bank said in its October 2017 Migration and Mobillity, Europe and Central Asia Economic Update.

In September 2016, Albania’s energy ministry said that Norway’s Statkraft launched the 73 MW Banja hydropower plant (HPP), the first of three planned plants on the Devoll river in Albania worth a combined 535 million euro ($600.7 million).

The bank confirmed the forecast for Albania’s gross domestic product (GDP) growth in 2018 at 3.5%.

The forecast for Albania’s economic growth in 2019 was decreased to 3.5% from previously projected 3.8%.

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