The Governing Board of the International Monetary Fund (IMF) concluded Article IV consultations with Albania and approved the mission's staff report without the need for a meeting, an expedited practice that occurs in cases where the Board deems that discussions are not necessary. 

The Albanian economy has emerged as one of the strongest performers in the region, the International Monetary Fund states in the introduction to the report on Albania, adding that the growing role of tourism has increased confidence in the country's economic prospects. 

In the report, the IMF states that "Albanian authorities have successfully steered the economy through successive shocks, thanks to appropriate macroeconomic policies." 

Also, the International Monetary Fund notes that the prospect of EU membership may provide an additional impetus to address long-term structural challenges. The economy continues to expand at a strong pace, further states the IMF, which predicts that for 2024, the Albanian economy will grow by 3.3%. 

The IMF states in the report that "the first ten months of 2023 have brought a much improved fiscal position." 

The high exports of services, foreign direct investments and remittances led to an improvement of the current account position and an appreciation of the Lek, the IMF estimates in the document. 

In the forecast for growth prospects, the IMF projects that "growth, although more moderate, is expected to remain strong, supported by demand for services and foreign direct investments". 

As for the current account balance, the IMF estimates that it is on track to improve in 2023, influenced by strong tourism-related inflows.