"The free exchange rate regime withstood the shocks" - EBRD representatives meet with the governor, Sejko
The governor of the Bank of Albania, Gent Sejko, held a meeting with representatives of the European Bank for Reconstruction and Development (EBRD). During the meeting, a special focus was on developments in the financial and banking system, as well as expectations for the economy.
The representatives of the EBRD emphasized that the prudent monetary policy followed by the Bank of Albania and the free exchange rate regime have helped maintain stability and cope with shocks, enabling Albania to have one of the best performances economic in the region.
Also, they underlined the success that the supervisory measures and regulatory policies have had in guaranteeing the stability of the banking sector and in the good performance of lending.
EBRD representatives encouraged the continuation of this philosophy of economic administration in the future, emphasizing the importance that a professional, responsible and independent central bank has for the sustainable development of the country.
Finally, they encouraged local actors to, starting from the concrete perspective of membership in the European Union, focus on accelerating the agenda of structural reforms in the country.
For his part, Governor Sejko emphasized that, during the year 2024: the local economy has made significant progress; the inflation level has halved compared to the previous year; economic growth has remained at high levels; while public debt and foreign debt have decreased.
The banking sector is liquid and well-capitalized, the indicator of non-performing loans continues to decline, while the lending level continues its upward trend. Compared to countries in the region, Albania has one of the lowest inflation rates and the slowest increase in financing costs.
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