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Albanian Economy 2005, growth lower then expectations (Table)

Tirana, Dec. 27 (AENews) – “Economic growth was slower this year due mainly to the energy crisis,” Ministry of Finances announced in its year-end analysis.

This year is expected to close with a 5.25% GDP growth, compared to the 6% growth level planned.

Average inflation for this year is expected to be around 2.2%, busted especially by the lower cost of imported goods which were in turn favored by lowered customs duties and the strengthening of the Lek.

The current price for the Gross Domestic Product is estimated to have reached LEK 837 billion (EUR6.86 bn).

Main economic indicators 2005 2006
GDP current price   ( mln Lek ) 836879 899700
Real growth                                  (% ) 5.25-5.8 5.5-5.0
GDP per capita                        ( in $ ) 2518 2.695
Inflation                                    ( in % ) 2.2 2.5
Exchange rate                   ( lek/usd ) 106.4 106
Trade balance                  (mln usd ) -1746 -1846
   – Exports                          (mln usd) 652 709
   – Imports                          (mln usd) 2398 2555
Total revenues            (% ndaj PBB) 23.9 24.6
Total expenditures     (% ndaj PBB) 27,7 28.7
Deficit                           (% ndaj PBB) -3.9 -4.1

Source: Ministry of Finance

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