TIRANA, September 7 /ATA/ Governor of the Bank of Albania Gent Sejko held a working meeting with a delegation of the International Monetary Fund (IMF) today in Tirana.
Governor Sejko made a presentation of the economic panorama in the country, focusing on prices, developments in the financial and banking system, as well as expectations related to economic indicators in the future.
He stated that the official data show that the Albanian economy has continued to grow at a steady pace, with an economic growth of 4.8% in 2022 and is expected to grow in the following years. Regarding the stability of prices, the Governor emphasized that inflation in the country is expected to return to the target during the middle of 2024. Regarding the banking sector, the Governor stated that this sector has continued its activity in a stable manner, with appropriate levels of indicators of profitability, with an improvement in credit quality and with a controlled exposure to various risks.
Further, the Governor focused on the monetary policy pursued by the Bank of Albania. He stated that the monetary policy has had a positive role in the progress of the country’s economy, helping to control internal inflationary pressures and enabling the normal functioning of financial markets. Also, this has been in line with the general direction of monetary policy in the EU.
Meanwhile, Stephanie Eble evaluated the work and results achieved by the Bank of Albania in terms of strengthening the monetary and financial stability of the country. In particular, she focused on the importance of returning inflation to the target and expressed support for the Bank of Albania’s measures to continue with the normalization of monetary policy.
Furthermore, IMF representatives encouraged the Bank of Albania to continue monitoring the situation, as well as policy coordination with the Albanian authorities, taking the necessary measures at the right time.
At the end of the meeting, Governor Sejko and representatives of the IMF emphasized the need and importance of continuing the excellent cooperation between the two institutions and continuing to provide technical assistance in the future./p.s./
