Sejko said that economic policies are designed to kickstart recovery and ensure sustainability of finances in the country.

“The 2022 draft budget is presented in the context of a recovery process of the Albanian economy, after the subsequent shocks of the earthquake and the pandemic, but also against the background of ongoing medium and long-term development challenges that lie ahead,” said Sejko.

In the judgment of the Bank of Albania, he continued, the economic developments of 2021, and in particular: the high growth rates during the first half of the year; partial recovery of labor market indicators; gradual improvement of private sector’s balances; inflation and exchange rate stability; as well as increasing lending to the private sector; shows that the Albanian economy is successfully dealing with this challenge.

“The Bank of Albania deems that the economic outlook for the country remains positive and that the economic recovery is bouncing back,” said Sejko.

The Governor stressed that the draft budget is based on the assumption of a positive and sustainable growth of economy during 2022 and in the medium term. In particular, the Draft Budget predicts that the 2022 budget revenues will increase by about 8% compared to the expected level of 2021, reaching 28.7% of GDP.
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