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Foreign report on economic and fiscal performance/Standard&Poor's improves Albania's ranking

2025-03-24 15:20:00, Ekonomi CNA

Foreign report on economic and fiscal performance/Standard&Poor's

Standard & Poor's (S&P) Global Ratings, in its latest report, states that it has raised its long-term foreign and local currency credit rating for Albania, with a stable outlook, reflecting the country's strong economic and fiscal performance over the past several years.

At the same time, S&P affirmed its short-term local and foreign currency credit rating of "B" and revised Albania's transfer and convertibility (T&C) rating to "BBB-" from "BB+", it said in a statement.

"Large net foreign direct investment (FDI), remittance inflows and booming services exports support Albania's solid economic prospects, despite heightened geopolitical tensions and uncertainty ahead of this year's parliamentary elections," the global rating agency said.

S&P expects Albania's real GDP growth to remain above 3% through 2028, driven by investment and consumption.

Structural challenges persist, such as a shrinking workforce and sustained emigration, while its reliance on tourism and external demand from key EU markets adds to economic vulnerability.

Fiscal risks persist due to high foreign currency debt, short domestic debt maturities and significant public-private partnership commitments, while diplomatic tensions with Greece could challenge its progress towards EU accession, the global rating agency said. /CNA





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