"Developing economies should have no illusions about the fight ahead: the next 25 years will be a tougher battle than the past quarter century." The World Bank predicts "tough times" for everyone in general and for poor countries like Albania in particular, A2 CNN reports.
“A new plan is needed, one that strengthens their capacity to stand on their own two feet and seize growth opportunities wherever they may be found. With the right policies, some challenges can be turned into opportunities. By strengthening trade ties with each other and accelerating reforms, developing economies can attract more foreign investment,” the World Bank states.
"The global economy is on track to record its worst half-decade of growth in 30 years," says the "Global Economic Prospects 2025" report, which estimates that the world's Gross Domestic Product will grow by less than 3 percent this year, A2 CNN reports.
"Our forecasts say it will grow by 2.7 percent this year and next, the same pace as in 2024. This is below the average of 3.1 percent that prevailed in the decade before COVID-19. At a time when global uncertainty remains very high in economic policies, developing economies would do well to take nothing for granted. It is better to redouble efforts to take control of their destiny," the World Bank emphasizes, writes A2 CNN.
The World Bank predicts that Albania's economy will grow by 3.5 percent this year. The world's top monetary institution estimates that in the region, Serbia will be the country expected to lead economic growth with 4.2 percent, followed by Kosovo and Montenegro. With Albania just below the middle of the table, Bosnia and Herzegovina and Montenegro are two countries expected to have the lowest economic growth. (A2 Televizion)
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