At the conclusion of the IMF mission in Albania conducted recently, the Team Leader, Ms. Sun issued the following statement:
“The sharp increase in food and energy prices as well as rising external funding costs following the war in Ukraine present the third major shock hitting the Albanian economy in recent years. Growth in 2022 is projected at about 3 percent, supported by tourism and construction but moderated by the impact of rising prices. Inflation has increased to considerably above the 3 percent target of the central bank and is becoming broad-based. It is expected to remain at a high level in the coming months—driven by import prices—before falling back to the target towards early 2024, reflecting the impact of monetary policy tightening.
For more information please visit: https://www.imf.org/en/News/Articles/2022/05/19/pr22161-imf-staff-concludes-a-staff-visit-to-albania