Bank of Albania Governor Gent Sejko declared in a press conference that the economy will grow during 2015, despite the side effects of the Greek crisis. “Bank of Albania foresees an economic growth higher than in 2014 and fluctuations in several economic indicators are temporary”, declared Sejko.
The conference was held after the meeting of Bank’s Supervisory Council, during which the members of the Council decided to not change the interest rate of 2% for deposits. As stated by the Governor Sejko, the Supervisory Council will undertake several policies for boosting investments and entrepreneurship.
The positive event in the banking system since January of this year is the decrease of nonperforming loans, according to Sejko. This will revive the banking system and make it more secure in the upcoming months. Related to this issue, the Governor declared that Bank of Albania’s main objective is to reduce the level of nonperforming loans to 20%, a target that will be reached within months.
“During the second semiannual of this year the economy will increase gradually and the country needs to accelerate the structural reforms in the economic sector,” concluded Sejko.
News source/photo credits: ATA