Bank of Albania is optimist about the economic increase during this year, after concluding that lending will increase rapidly and that massive flooding in southern of Albania will not have significant effects in country’s economy. This was declared by the Governor of the Bank of Albania Gent Sejko in his first official press conference as the head of BoA.
After the positive performance of bank system and the increase of lending during the year we left and on January of this year, Sejko ensured that this positive trend will continue. He added that the improvement of lending will increase in parallel with the economic increase during 2015.
“The economic increase in 2015 is predicted to be higher than the economic increase we had in 2014, since the domestic and external economic situation has generated low inflationist pressure,” declared Sejko.
He later added: “Based on data issued by Albanian Institute of Statistics, the annual inflation was 1.3% on January, increasing slightly compared to the annual inflation on December 2014. This has come due to the fluctuation of food prices in the international markets during this period. The decrease of inflation rate during 2014 has been affected by the decrease of oil prices. The increase of inflation on January was at the same rates as Bank of Albania had predicted, but inflation continues to be under the objective set by BoA”.
According to the Governor, Bank of Albania has decided to keep the same interest rate on deposits (2%) as in the past year, adding that “the Supervisory Board of BoA estimates that the monetary policy of this institution will continue to apply its stimulating policies for the upcoming quarters.”
News source/photo credits: ATA
Leave a Reply
You must be logged in to post a comment.