S&P revises upward the outlook for Albania, from "stable" to "positive"

The international rating agency Standard & Poor's (S&P) has revised upward its perspective for Albania from "stable perspective", now to "positive perspective".

At the same time, the agency has re-confirmed the assessment of the country at "B+".

The "positive outlook" according to the agency reflects its view that the country's fiscal parameters will continue to improve beyond the agency's expectations, through the government's efforts to consolidate public finances.

Moreover, despite a slowdown in the country's main trading partner, the EU, the agency predicts that the parameters of Albania's external position may improve more than expected, as the global economy recovers and the Albanian tourism sector continues to expand. .

The agency predicts that after a moderation in growth for this year to 3%, mainly due to lower foreign demand from Europe, growth is expected to regain speed after the current year 2023, relying also on the easing of financial conditions and the increase of global economic activity.

Agjencia thekson se vitet e fundit, Shqipëria është përballur me një sërë goditjesh, përfshirë një tërmet në vitin 2019. Pavarësisht kësaj, qeveria ka bërë përpjekje të forta për të konsoliduar financat publike. Si rezultat, agjencia pret që defiçiti buxhetor të konvergojë në rreth 2% të PBB deri në vitin 2026 dhe borxhi publik të reduktohet në 58.3% në 2026 nga 64.5% që rezultoi në 2022, duke qenë në përputhje me rregullat fiskale të balancës primare dhe të reduktimit të borxhit publik të përcaktuara në Ligjin Organik të Buxhetit (OBL). Megjithatë, agjencia vëren se konsolidimi fiskal do të varet edhe nga rimëkëmbja e qëndrueshme e rritjes ekonomike dhe vijimësia e reformave strukturore.

The agency notes that inflation has fallen, reaching 4% in August, down significantly from 7.2% in January, and it predicts that inflation will average 4.7% for 2023, then gradually decline to targeted at 3%, also thanks to the strengthening of the lek.

Given Albania's lack of bilateral and geographical disputes, its strong domestic support for the EU and the government's parliamentary majority, which facilitates the passage of reforms, the agency believes the country is well-positioned to advance its bid for membership in the EU, without major external obstacles./ Monitor.al

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