Bank of Albania: Better economic activity, more inflation
06/05/2015 00:00
Albania the country with the highest increase in air visitors, twice as many travelers than in 2019 02/05 15:48
In the report for the first three months of this year, the Bank of
Albania declared that there is a slight increase of inflation, which
means more economic activity.
The Governor of the Bank of Albania, Genti Sejko, declared that the inflation was caused mostly due to the growth of food prices. For the Bank of Albania, this is a positive indicator, but the economy has still capacities that have not been exploited.
“According to the Supervisory Council, the economic activity is getting better but the economy has still unexploited capacities. The economic growth reflected the regeneration of the internal demand”, Sejko declared.
The Bank of Albania foresees the inflation to increase gradually during the months to come, with a 2.2% in 2015.
Governor Sejko declared that the Bank of Albania will continue with easier monetary policies, by not changing the interest rate for ALL at 2%.
“Monetary facilitating policies to increase the demand and return inflation in its normal figures have given results”, he added.
Loan expansion remains law, although the banking system is solid. According to the Bank of Albania, the model of funding the budget deficit for this year by using foreign creditors might make it easier for loans.
Tbe Bank of Albania says that the structural reforms for increasing the productivity of the Albanian economy through a better business climate must continue.
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