Zaçaj attended the July 6-7 meeting, which brought together central bank governors, finance ministers and senior officials from member countries to discuss the global economic outlook, inflation, economic growth, financial stability and the impact of artificial intelligence on the economy and labour markets.

She said Albania’s economic growth remained solid, while inflation continued to fluctuate close to the Bank of Albania’s target.

Zaçaj highlighted the central bank’s role in safeguarding price and financial stability through a prudent monetary policy, adding that Albania’s banking sector remained well capitalised, maintained ample liquidity and continued to record historically low levels of non-performing loans.

Structural reforms and Albania’s European integration process also featured prominently in the discussions. Zaçaj stressed the importance of operationalising SEPA transfers as a step towards deeper financial integration with the European Union.

On artificial intelligence, she said the technology offers opportunities to improve efficiency, strengthen data analysis and enhance supervisory processes. She added that the Bank of Albania is working to establish an internal framework for the responsible and secure use of AI in line with European Union standards.

The meeting concluded with participants reaffirming the importance of international cooperation and coordinated economic policies to address global challenges and support sustainable economic growth.

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Addressing an extended Assembly of the ruling Socialist Party in the southern Albanian city of Fier, the government head highlighted the latest reports by the international institutions on the performance and growth of the Albanian economy.

Rama said that the International Monetary Fund (IMF) mission has recently stated that the Albanian economy is one of the most resilient economies in the region.

“Having built a resilient economy within its capacities is not something that everyone does, because, as you know, the developments around the world have affected all economies,” he said.

The government head also noted that the Standard & Poor’s rating agency upgraded Albania’s rating to B+ with positive outlook from B+ stable rating for first time in seven years.

“If we continue to move forward this way by cutting the public debt and with the EU accession negotiations already opened, Albania could be soon upgraded to 2B,” Rama stated.

The Premier said that the country’s public has been significantly reduced after hitting at a 75% level after the shocks to the country’s economy in the recent years.

“The country’s public debt is projected to narrow to 60% in 2024, down by 15%,” he said.

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