TIRANA, Jan 4 /ATA/ – The Bank of Albania has adopted its medium-term development strategy for 2024-2026.
Through its medium term development strategy, the central bank aims to evaluate effectiveness of a range of instruments in a bid to cut inflation to the bank’s target rate.
Taking notice of the current developments, the Bank of Albania finds that increased flexibility in the use of its instruments would allow the Bank to tackle new challenges through employment of appropriate approaches, helping to meet the monetary policy objectives and inflation target.
The strategy also includes main objectives: Improving the physical administration of monetary values; Diversification of investment instruments; Methodological alignment with international standards and European legislation; Integrated data management; Increasing the capacity and usefulness of research projects; Modernization and security of information technology; Strengthening the role of the Internal Control System in fulfilling legal objectives and respecting management policies.
The medium-term development strategy of the Bank of Albania for 2024-2026 provides comprehensive guidelines and serves as guidance for the Bank of Albania’s activities over this three-year period, by identifying both the priorities and developments. In addition, the strategy delineates a general framework and instructions for the drafting of the three-year budget, through the results-based management (RBM) approach.
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