TIRANA, April 27 /ATA/ The Bank of Albania’s monetary policy has contributed on average by 0.83% to economic growth of Albania during the last three years.
An analysis of the Bank of Albania on the impact of monetary policy over the last four years estimates that the average impact on inflation has been approximately 0.7%, while on exchange rate has been 0.6%.
The effect of monetary policy is assessed on interest rates in local currency, on the nominal exchange rate; on inflation.
The positive effect of monetary policy on Albania’s economic growth is attributable to lowering of interest rates and the cost of servicing existing debts, as well as to uninterrupted lending to the economy, with an impact on GDP growth.
/sm/
