TIRANA, Nov 26 /ATA/ The Bank of Albania (BoA) Governor Gent Sejko said that economy will get back on its feet next year whereas the banking system is stable.
During a televised interview, Sejko said that “if the pandemic ends, economy will bounce back faster. The first year after every crisis sees a faster economic recovery, afterwards the economy will grow at a constant pace.”
“In the midst of the pandemic, we have taken all the measures to sustain the Albanian economy. There are positive indicators such as the inflation maintained at stable rates, there is no price raise, exchange rates has been stable, financial markets appear calm and banking sector continues to be sound,” the governor said.
Sejko went on saying that financial markets are liquid due to macro-prudential measures introduced in the banking system, on the other hand the state budget has a surplus of ALL 35 billion, which are sufficient resources to finance the state budget.
They have been provided for this year either by the Eurobond or domestic borrowing or in international markets. But of course the 2021 budget that went through parliament reflects the sources of funding for next year. The BoA has pursued an accommodating monetary policy to boost consumer lending and investment. “Meanwhile we have maintained the overvaluation of the Lek, which shows the stability of economic indicators,” he said
/j.p/sm/
