Malaj: The macroeconomic and fiscal framework 2027-2029 confirms the clear direction of the country's development
Minister of Finance, Petrit Malaj, stated today that Albania is moving forward with economic stability and stronger public finances, while the approval of the 2027-2029 macroeconomic and fiscal framework confirms the clear direction of the country's development.
In a post on social media, Malaj emphasized that the new framework foresees sustainable economic growth, high public investments, and a gradual reduction in public debt.
"The Albanian economy is expected to maintain strong growth rates in the coming years, supported by investments, domestic consumption, tourism and exports of services," said Malaj.
At the same time, Malaj added, fiscal policy will continue responsibly to guarantee stability, reliability and more development opportunities for citizens and businesses.
"This framework is another concrete step towards strengthening the Albanian economy and bringing it closer to European Union standards," said Malaj.
During the period 2023-2025, Albania's economy has experienced stable and positive growth, with the economic growth rate reaching 4.0% for 2023 and 2024, and 3.8% for 2025.
Economic growth is forecast at a rate of 4.0% for 2026 and over the following medium-term period 2027-2029, it is forecast at an average of around 3.9% per year. More specifically, economic growth is forecast at 3.9, 4.1 and 3.9% for 2027, 2028 and 2029 respectively.
According to the framework, the main engine of economic growth will remain domestic demand, supported by increased consumption and investment.
Private consumption will continue to be driven by the improvement in the labor market and increased consumer confidence, while private investment will benefit from the improvement in the business climate, easing financing conditions, and expanding economic activity.
Exports of goods and services are projected to grow by an average of 4.6% per year during the period 2027–2029, while exports of services, especially tourism, will continue to be one of the main pillars of the Albanian economy.
At the same time, inflation is expected to return to the 3% target during 2026 and remain close to this level in the medium term.
In the fiscal plan, the government aims to continue consolidating public finances. The budget deficit is projected to decrease from 2.3% of GDP in 2026, to 1.6% in 2027, 1.3% in 2028 and 0.9% in 2029. In parallel, the primary balance will remain positive, reaching 0.8% of GDP in 2027, 1% in 2028 and 1.4% in 2029.
Gross public debt will decrease to around 50.2% of Gross Domestic Product by the end of 2029, from 52.9% in 2025, strengthening the long-term sustainability of public finances.
The Macroeconomic and Fiscal Framework 2027-2029 represents another concrete step towards strengthening the Albanian economy, guaranteeing macroeconomic stability and bringing the country closer to European Union standards, in line with the strategic objective "Albania 2030".
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