TIRANA, Feb 2 /ATA/ The Bank of Albania Governor, Gent Sejko, stated on Wednesday that, “domestic economic activity is expanding at a relatively steady rate.”
In the press conference, Sejko said that, “according to INSTAT data, the Albanian economy grew 10.4% during the first three quarters of the year.”
“The available information signals a further expansion in the fourth quarter. Our analysis shows that the volume of economic activity in the country has already exceeded its pre-earthquake and pre-pandemic level, both at the aggregate and the sectoral level, illustrating the rapid recovery of demand and the small structural impact of these shocks on the productive structure of economy. “On the whole, the balance sheets of the private sector remain healthy, as illustrated by the increase in deposits and the decline in non-performing loans, while the performance of business confidence is consistent with a further expansion of production,” said the Governor.
Sejko said that the recovery of aggregate demand reflected the reduction of restrictions, the improvement of confidence, the improvement of partner economies and the continued support through accommodative policies.
“The profile of economic growth shows the expansion of consumption and private investment, public spending and net exports. In particular, the rapid growth of exports in the third quarter of 2021 was dictated by the improvement of tourism activity. Our projections suggest further economic growth in the years to come,” said the Governor.
/a.a/r.e/sm/
