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Albania and Montenegro to record best economic growth in Balkans

Jude Buttle

According to the International Monetary Fund's forecasts, the economies of Albania and Montenegro are expected to achieve the strongest growth in the Balkans region this year.

The economies in Albania and Montenegro are projected to grow by 6% and 7.2% respectively by the end of 2008. Bulgaria and Bosnia and Herzegovina are expected to co-occupy third spot with a 5.5% expected economic growth, followed by Romania (+5.4%), Macedonia (+5%), Croatia (4.2%) and Serbia (+4%).

Countries in the Balkans, despite possessing relatively underdeveloped infrastructure, are attracting international investments. In particular their property markets are seeing an increase of building constructions and an influx of foreign investors, who are attracted by the regions affordable prices and growing economies.