TIRANA, Oct 6 /ATA/ – The Bank of Albania expects the country’s economy to grow further over a medium-term, mainly driven by the expansion of consumption and private investments, increase of budget expenditures and exports, the central bank governor said on Tuesday.
The Governor of the Bank of Albania Gent Sejko said that Albanian economy is expected to grow faster in the current year and to expand at a stable pace in the coming years.
According to Sejko, the favourable external environment, the reduction of uncertainty in Albania, the simulating fiscal-monetary policy mix and the improvement of private sector balance sheets will underpin the economic growth.
Sejko noted that according to data from the National Institute of Statistics, INSTAT, the Albanian economy grew by 17.9% in the second quarter of 2021. The growth rate suggests that the Albanian economy has almost recovered the losses in the economic activity caused by the earthquake and the pandemic.
“The recovery of economic activity expanded on a broad base and it reflected the expansion of consumption and private investments, increase of budget expenditures and the expansion of goods and services. In sectoral terms, it reflected the simultaneous expansion in the activities of construction, industry and services. The increase of prices in global markets will affect the performance of inflation, in Albania and internationally. This impact is expected to be temporary,” Sejko said.
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