Fullani: There will be no recession
29/02/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
The Bank of Albania governor, Ardian Fullani, declared that Albania is
not endangered by recession, since the GDP will keep growing even during
this year.
“The economic development predictions support a positive but slower growth”, Fullani declared.
Being reserved with the figures, Mr. Fullani believes that the negative consequences that derive from the expected slowdown of exports and the shrinking of government’s expenses could be compensated in another way.
“The economic activity growth for every country will be mostly determined by the domestic demand of private consumption and investments. These developments will be supported by the monetary policies and conditions of the Albanian Bank”, Fullani underlined.
Bank of Albania held the interest rate unchanged, at 4.5%. The governor declared that this level guarantees stable prices in the market and economic stimulus.
Fullani’s optimism comes despite the fact that the recent evaluations show that the Albanian economy is facing a slowdown, and although the first figures for 2012 seem very gloomy.
On the other hand, the experts say that the basic interest rate does not completely function in difficult economic times.
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