TIRANA, November 3 /ATSH/ – Governor of the Bank of Albania Gent Sejko presented today the quarterly monetary policy report.
According to him, the Albanian economy has performed positively during the first three quarters of 2026, as reflected in the growth of economic activity, rising employment and wages in the non-agricultural private sector and the maintenance of inflation at levels close to the Bank of Albania’s target.
According to Sejko, international developments have been reflected in rising prices in Albania.
“Consumer price inflation stood at 3.2% during the third quarter, up from 3% in the second quarter, primarily due to increases in the prices of fuel and certain unprocessed food products. While, a slowdown in rental inflation exerted an opposing pressure during the quarter, contributing to a decline in overall inflation from 3.4% in July to 2.9% in September,” he noted.
Sejko highlighted that imported inflation has been on the rise, although the appreciation of the Lek has partially cushioned the impact of foreign prices.
The Governor emphasized that there has been sustained economic growth throughout the first three quarters of the year. “According to INSTAT, the economy grew by 3.6% in the first half of the year, maintaining a pace similar to that of the previous year, while available indicators for the third quarter suggest that a steady rate of economic growth is being sustained. This growth continued to be supported by an expansion in consumption, investments and total exports—driven by high demand for tourism services, as well as an increase in electricity production and exports. From a sectoral perspective, the primary contributions continue to come from services and construction,” he stated.
Furthermore, according to Sejko, the labor market has continued to be characterized by rising employment and wages, in response to increased business demand for labor and challenges on the supply side.
In addition to a strong labor market, Sejko noted that the expansion of domestic demand has also been supported by favorable financing conditions. “Interest rates in the financial market remain at accommodative levels, reflecting the monetary policy stance and contained risk premiums.
The Bank of Albania’s projections suggest that the economic outlook remains positive.
However, according to the Governor of the Bank of Albania, “Uncertainties surrounding this outlook have increased.
“In particular, developments in the external environment remain unfavorable; recent social tensions could render into increased uncertainty and a reduction in consumption, investment”, he said. /m.m/j.p/p.s./
