TIRANA, April 3 Albania's gross domestic product
grew 3.46 percent in 2016 over 2015, the Institute of Statistics
said on Monday, according to preliminary estimates based on
The 2016 growth estimate was in line with 3.4 percent growth
forecast by the Albanian government and the International
Monetary Fund. They predict growth of 3.7 percent in 2017.
The gross domestic product grew 3.97 percent in the fourth
quarter of 2016 over the same quarter in 2015, boosted by trade,
hotels, restaurants and transport as well as construction.
Except for the real estate sector, which fell by 0.18
percent, the rest of the economy recorded higher growth in the
fourth quarter of 2016 compared to the same period in 2015.
The electrical energy sector contributed 61.94 percent to
help the industry, energy and water sector expand by 5.14
percent in the fourth quarter, offsetting a 10.57 percent
decline by the extracting industry.
Construction rose by 6.81 percent, helped mainly by private
firms that carried out major construction work for the Trans
Adriatic Pipeline (TAP AG), the Institute said.
It estimated the gross domestic product grew 0.90 percent in
the fourth quarter of 2018 over the third as agriculture,
financial services and net taxes underperformed.
(Reporting by Benet Koleka; Editing by Tom Heneghan)