The Bank of Albania presented on Tuesday the Monetary Policy report for the second six months of 2023.

The Director of the Department of Financial Stability at the Bank of Albania, Klodian Shehu emphasized that the Albanian economy has had a positive growth last year and will continue to pursue this trend this year as well.

According to him, the eurozone has seen a slowdown in economic performance, while the countries of the Western Balkans have recorded growth underpinned by investments and consumption.

“Albania has had a good economic growth estimated at the level of 3.8% and this growth has been mainly supported by private investments and consumption, but also by the good performance of the tourism sector. As a result, we have had an improvement in the labor market, a decrease in the number of unemployment and an increase in wages”, said Shehu.

According to him, positive indicators are presented in other sectors as well.
“The level of non-performing loans has dropped to 4.7%, while the provision coverage rate has increased to the level of 71%”, he said.
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