"Funding conditions, favorable for sustainable growth" - Governor Sejko, at the meeting of Economic Research for Southeast Europe
Researchers and academics from the region and beyond have gathered in Tirana to discuss the economic and financial challenges affecting our economies. During the 18th meeting of Economic Research for Southeast Europe organized by the Bank of Albania, Governor Gent Sejko stated that the global economy faces increased uncertainties resulting from an unstable environment of inflation and interest rates, but also with political and institutional uncertainties that create the ground for significant policy and governance changes in the coming years. In his speech, Sejko also touched on the Albanian economy
I must underline that the Albanian economy has undergone important structural changes, related to the rapid growth of tourism and construction; demographic changes related to the aging of the population, its migration, as well as the EU integration process. During the last five years, Albania's economy has faced significant price fluctuations due to natural phenomena, economic shocks and geopolitical developments. In response, our monetary policy has proven to be flexible to these changes, ensuring that financing conditions remain favorable for sustained economic growth, reflected in broad-based credit growth and ample liquidity in the financial system. .
On the other hand, in addition to adjustments in interest rates, the Bank of Albania has undertaken other policies, such as macroprudential ones in interaction with those of a microprudential nature.
In parallel, the Bank of Albania has undertaken a number of other initiatives related to the increase of inclusion and financial culture, where the law on payment services and on the basic account, our membership in SEPA and the strategy for financial education and inclusion are expected to bring important changes in the further development of the financial system. These measures aim to modernize it, increase financial inclusion, reduce informality in the economy, and improve the transmission of monetary policy. They are vital for maintaining price and financial stability, promoting sustainable growth and supporting Albania's broader macroeconomic objectives.
During the two days of the conference, the implications of interest rates and exchange rates on the economy and the financial sector will be discussed, analyzing how trade and finance interact with each other, as well as environmental, social and governance factors. , in the framework of the sustainable and long-term development of the economy.
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