Bank of Albania in collaboration with Oxford University organized the annual conference dedicated to the changes the economic crisis cause in the economic fundamentals of Southeast Europe countries. Present in the conference were the Governor Gent Sejko, the Prime Minister Edi Rama and many economy experts. According to Bank of Albania Governor, the Albanian economy continues to perform positively although under its growth potential, thus by positioning the economic activity negatively.
Sejko added that the banking system continues to be financially healthy, by saying that the economy has unexploited potential. “The economy has unexploited potential and to change this situation we need to apply structural reforms. A long term economic growth requires reforms oriented towards productivity,” declared Sejko at the conference.
The Governor announced that for the first time in the last seven years the level of nonperforming loans decreased by the end of 2014 and during the beginning of 2015, and through a coordinated plan with the government, the IMF and the Association of Banks, the Bank of Albania is aiming to improve further this indicator in order to increase lending.
“Bank of Albania is engaged in supporting private businesses and the economic growth by monetary policies that aim to change the behavior of banks regarding lending.
News source/photo credits: ATA
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