The Governor of the Bank of Albania (BoA), Gent Sejko, said during the presentation of the report for 2014 that price stability is one of the main priorities of the bank. Sejko presented the report on Wednesday at the Parliamentary Committee for Economy and Finance.“BoA is focused on keeping inflation under control and preserving financial stability,” the governor said.
“BoA is focused on keeping inflation under control and preserving financial stability,” the governor said. Speaking about the details of the report, the governor highlighted that in 2014 the Albanian economy increased by 1.9 percent compared to 2013. He also added that the level of bad loans fell, but it still remains concerning for second tier banks, which have pulled back from giving loans.
Speaking about the details of the report, the governor highlighted that in 2014 the Albanian economy increased by 1.9 percent compared to 2013. He also added that the level of bad loans fell, but it still remains concerning for second tier banks, which have pulled back from giving loans.
Sejko added that economic growth was supported by an increase in domestic demand, increased economic activity, improvement of balances, increased in consume and private investments. According to the head of BoA, the fiscal policy is now consolidated, even though free capacities in the labor market have not been completely exploited.
“It is expected that the Albanian economy will continue its positive trend of growth. This will help to bring balance back to economy. Some of the essential factors that will support this growth are the monetary stability of Albania and facilitated lending conditions,” Sejko stated.
News/ Photo Source: Local media, ATA
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