TIRANA, Oct. 7 /ATA/ – Albania’s economy continued to grow at a solid pace in the first half of the year, Bank of Albania Governor Gent Sejko said on Wednesday.
According to INSTAT data, economic activity expanded by 3.6% in the second quarter, broadly in line with, though slightly below, the pace recorded in the previous quarter.
Growth was driven mainly by stronger consumption and investment, while net exports made a marginal positive contribution. Fiscal policy also continued to maintain a consolidating stance.
By sector, growth was supported mainly by construction and services, while industrial and agricultural activity continued to contract, Sejko said.
“Available data suggest a similar economic performance in the third quarter,” he said.
The improvement in economic activity has also been reflected in the labour market. The unemployment rate fell to 8.3% in the second quarter, close to its historic low, while employment in the non-agricultural private sector rose 2.3%.
Average wages increased 11.5% year-on-year during the quarter.
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