The Albanian economy is showing strong paradoxes, witnessing the two completely opposite approaches that have connected with its progress: the government on one side and the citizens on the other. As the country records economic growth, relatively at satisfactory levels, consumers feel pessimistic. While the opposite should have happened.
The country's economic growth in 2024 is expected to be around 3.9%, although this data has not yet been officially made public. The same level of growth is predicted this year as well.
In theory, this growth should translate into more jobs and increased disposable income of citizens, making them happy. Which did not happen.
Consumers and all sectors of the economy, such as services, trade, industry and construction, experienced a drop in confidence last month. This pessimism occurs in December, the holiday season, where all economic actors, whether businesses or citizens, tend to spend more due to the enthusiasm of the holidays. But this year, confidence in the economy has fallen by 3.8%, leaving no room for joy at all.
But why are consumers pessimistic?
According to the survey of the Bank of Albania, the perception of the current financial situation is estimated to be decreasing; the inability to make large purchases; the price level and the general economic situation. (A2 Televizion)
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