The Albanian economy is expected to see a rapid and steady rise during the year and the two following years.
Bank of Albania Governor, Gent Sejko, said that an estimated positive growth of over 5% is projected.
“This rise will be accompanied with an expansion of the employment sector and a rise of income by creating the necessary environment for a reverse of our current inflation back to our objective rate within 2022,” said the governor.
During Wednesday’s meeting, the Supervisory Council decided to keep the base interest rate unchanged, at the current level of 0.5% and to do the same with interest rates for one-day deposits and loans, which will be left at 0.1% and 0.9% respectively.
“The improvement of the demand on loans and the favorable terms of the offer, have resulted in a relatively sharp rise in crediting. The loan portfolio for the private sector marked a yearly rise by 7.8% in May, in relation to an average yearly rate of 6.8% during 2020. Apart from the overall rise of the portfolio, the dynamics of crediting, bear with them other positive signals as well,” said Sejko.
In any case, according to the Governor of the Bank of Albania, our economy is far from a complete normalization of its activities. This process, according to the governor, should continue to receive support from stimulating policies.
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