Economy & Finance
The big picture
Albania’s energy market to link with Italy through an underwater energy cable
Albania is embarking on a transformative energy project with the construction of an underwater power cable connecting it to Italy, a landmark development in the country’s energy and economic strategy....
Western Balkans countries launch ‘WB6 IIP’ to promote regional investments
The six Western Balkans countries—Albania, Kosovo, North Macedonia, Bosnia and Herzegovina, Montenegro, and Serbia—have unveiled a comprehensive platform called ‘WB6 IIP’, designed to streamline investment processes and provide detailed information...
A regional instant payment system is set to be established in the Western Balkans
The Bank of Albania, alongside the Bank of Italy and central banks from Kosovo, Montenegro, and Bosnia and Herzegovina, has signed an agreement to establish a regional instant payment system...
IMF projects 3.5% economic growth for Albania in 2025
Albania’s economy is projected to grow by 3.5% in 2025, according to the International Monetary Fund (IMF). Anke Weber, IMF’s mission chief for Albania, attributes this growth to robust domestic...
Albanian Government announces first electricity price reduction in 35 years
The Albanian government, through a proposal to the Energy Regulatory Authority, has approved a reduction in electricity prices for household consumers. Starting in February, families consuming up to 700 kWh...
Albania’s economic performance in 2024
Albania’s economy demonstrated resilience and moderate growth in 2024, maintaining its trajectory toward sustainable development. The Gross Domestic Product (GDP) expanded by an estimated 3.7%, underpinned by strong performances in...