Big boost for Albania as global agency S&P lifts the country’s credit score, citing strong growth, falling debt, and solid reforms.
Albania’s long-term credit rating has been upgraded from BB- to BB by Standard & Poor’s, with a stable outlook. The global ratings agency praised the country’s steady economy, falling debt, and a sharp rise in service exports—especially from tourism.
Since 2019, Albania has cut its public debt by over 10% of GDP, while foreign investment has stayed strong and the current account deficit has halved.
S&P says growth will stay above 3% through 2028, with smart reforms keeping deficits low and income rising. Public finances, it adds, are performing well, thanks to tighter tax rules and progressive changes in income and corporate tax.
Debt is now at 55.4% of GDP and expected to drop to 51.7% by 2028.
The agency also noted big improvements in Albania’s external position, with service exports making up 16% of GDP in 2023.
The upgrade is seen as a green light for investors and a vote of confidence in Albania’s economic direction.
