TIRANA, Dec 16 /ATA/ – Governor of the Bank of Albania, Gent Sejko, hosted a traditional year-end meeting with leading journalist, commentators and other media representatives in the country.
In his address during the event, the central bank governor pointed out the recent technological advancements and global uncertainties that render the communication of central banks with the public even more important.
“For Albania, this communication becomes even more valuable, as individuals are challenged by the unsatisfactory level of financial literacy, particularly digital literacy. Nevertheless, thanks to your work and in close collaboration with you, we have succeeded in conveying to the public the stance and expected consequences of every policy undertaken, reflecting the truth and eliminating any misinterpretation or deviation from it,” Sejko said.
According to him, the latest data on macroeconomic developments in Albania show that the positive performance of the economy, coupled with the increased employment and revenues, have led to surging income for businesses and households, which in turn are reflected in higher household’s spending and business investments.
Sejko also noted that the inflation rate has pursued rapid falling trend, fully recovering from the price surge in international markets to drop to 2% in November 2024.
“Price stability has been accompanied by reduced living cost for households and an increase in business investments. Overall inflationary pressures have been also reduced, on the back of declined inflation in trading partners, appreciated exchange rate and the normalization of monetary policy stance over the past two years,” he said.
BoA Governor also highlighted the fact that Albania joined the Single Euro Payments Area (SEPA), a move that promises remarkable benefits for individuals, businesses and the overall economy.
Sejko said that central bank’s forecast remain positive, mainly driven by positive in terms of economic activity growth, underlining that financial environment, characterized by ample liquidity, relatively low and stable interest rates, and contained risk premiums play a critical role in this respect.
/j.p/u.sh/
