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Overview

Country Context

Albania2024
Population, million2.8 
GDP, current $ billion23.0
GDP per capita, current $8,300
Life Expectancy at birth, years 76.8

Albania is implementing important structural reforms that will support equitable growth, raise productivity and competitiveness in the economy, create more jobs, and improve governance and public service delivery. Enhanced regional connectivity and access to regional and global markets, coupled with export and market diversification, can also help promote faster growth.

The government’s focus is now on sustainable growth with special focus on tourism, agriculture, and digitization as well as increased attention to climate change and the environment. Sustaining the pace of reforms is a priority. Albania opened accession talks with the European Union in mid-October 2024. The first chapter of negotiation covers judiciary and fundamental rights, freedom and security, and procurements and financial control.

Albania’s economic growth in 2024 is expected to stay strong at 3.3%, driven by private consumption, tourism, and construction. Growth is expected to moderately accelerate to 3.4% in 2025. Poverty is expected to continue to decline as employment and wages rise. The country’s medium-term prospects hinge on global recovery, and structural reforms.

The World Bank and other partners are working together to support the government in overcoming these challenges and implementing the country’s longer-term vision.

Last Updated: Oct 24, 2024

is the electricity customer collection rate in 2020, up from 78% in 2014.

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Albania: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments
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Additional Resources

Country Office Contacts

Tirana, Albania
34 Ibrahim Rugova St.
Tirana, Albania
Tel. (355 4) 2280 650/1