Albania bucks fears of a Europe-wide recession as IMF predicts 3.5% GDP growth in 2012
A recent report released by the International Monetary Fund (IMF) has estimated that Albania’s GDP growth for 2011 will be around 2.5%, reaching 3.5% next year.
Although the growth forecast for this year is lower than the registered 3% GDP growth seen in 2009 and 2010, the Albanian government is predicting a more positive scenario; putting GDP growth in Albania at around 4.5% signaling excellent news for investors in the Balkan nation.
In its report, the IMF stated that it expected the strong performance of the leading emerging nations to be the main driving force behind growth in the world economy, highlighting that emerging countries such as Albania coped well with the global crisis after implementing strong policies in the country before the economic downturn took place.
In addition, the findings also indicate that Albania is one of the best performing Balkan nations this year with Bosnia and Herzegovina only experiencing a 2.2% GDP increase followed by Montenegro at 2.0%. Croatia is expected to expand the least this year with only 0.8% GDP growth.
Ravin Maharajah, Partner of Lalzit Bay Resort & Spa, the 5* luxury residential development located on Albania’s Adriatic coastline comments,
“Albania has much to offer investors. Indeed with the IMF suggesting that the Eurozone and the US could fall back into recession, expecting the United States to grow by only 1.8% in 2012 and the Eurozone by 1.1% next year, it would appear that Albania will lead the way in faster economic growth in the coming years. The report even predicts Western European nations such as France to fall behind Albania’s growth, with a mere 1.7% GDP growth in 2011 and only 1.4% for 2012.
“As a testament to Albania’s potential, our customer base continues to grow as the benefits of buying a beach property in Lalzit Bay Resort outweigh the macro-economic issues affecting the Eurozone. We’ve sold many units in the last few months and have released more to meet demand”.
With interest rapidly growing and the expectation of increased GDP growth as well as high visitor numbers in coming years thanks to a wider range of infrastructure projects, 5* Lalzit Bay Resort & Spa can provide the perfect property investment opportunity for as little as €38,000 for a luxury apartment on a beach-front resort.
This stunning property development, recently voted ‘Project of the Year’ at the 2011 RealEx conference in Tirana recently for its high quality infrastructure and strong commitment to the environment will provide outstanding on-site facilities including a beach club, BBQ area, tennis courts and restaurants.
For more information please contact Lalzit Bay on 0845 125 8600 or visit www.lalzitbay.com.