Today, Prime Minister Edi Rama announced that the government had lost €100 million in March, and approximately €170 million in April. He also warned that there will likely be a €170 million loss in May, as well, and €100 million in June.
While the IMF did not give a precise projection of the decline the tourism industry is expected to see, it warned that this decline will be too steep to be balanced out by the economic activity that will be generated by reconstruction projects. Thus, the Albanian economy will grow at a slower rate than that predicted for the year 2020.
Albania is expected to recover from the decline by 2021, for which year the IMF forecasts an 8 percent GDP increase over 2020, making for an average GDP growth of 2.6 percent in the 2019-2021 period.