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ATA - BoA governor: Economic development of the country remains positive

TIRANA, Sept 9 /ATA/ – The Governor of Bank of Albania, Gent Sejko, held a meeting with representatives of European Bank for Reconstruction and Development (EBRD), chaired by Zsuzsanna Hargitai, Regional Director for the Western Balkans, and Matteo Colangeli, EBRD Representative for Albania. Sejko emphasized the positive role that the EBRD programs have played in developing the financial system and strengthening the institutional capacity of the Bank of Albania.

The governor provided an overview of economic and financial developments in the country. He noted that despite fluctuations coming from certain sectors, the country’s development follows a positive trend, providing employment growth, improving the public and private sector’s financial robustness, as well as an increasing trend of domestic inflationary pressures.

He emphasized that this development trend reflects either the positive effects of our stimulating monetary policy, as well as the effects of various initiatives that the Bank of Albania has undertaken in terms of reducing non-performing loans, improving the lending environment, improving the supervisory and regulatory framework and its alignment with EU standards, as well as increasing formalization and further development and expansion of the financial market.

In his remarks, Governor Sejko stated that the Bank of Albania shares same opinion with the EBRD on the challenges of the country’s development, putting emphasis on the need to increase productivity and managerial skills in the economy, on the need to improve comprehensive infrastructure and business climate, and the need to support the development of sectors that offer yet untapped development potentials, such as tourism, energy, and agro-industry.
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Agency : ATA

Date : 2019-09-11 10:36:43



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