The Bank of Albania expects that the prices in the market will gradually normalize in 2023 and a year after that the inflation will decrease to the level of 3%.

The statement comes from governor Gent Sejko, who says that this year consumption and economic growth were put in difficulty because of the war in Ukraine.

“In November, inflation reached 7.9% – a little lower than the previous month, but still a high value that constitutes the main threat to macroeconomic stability, as well as to Albania’s stable and long-term growth. I want to underline that according to the latest forecasts of the Bank of Albania, inflation is expected to be progressively reduced during 2023 and return to the target in the middle of 2024”, said Sejko.

However, the Bank’s interventions to increase interest rates were useful to limit the further increase in inflation, while in general, there is no talk of a recession. At the meeting of the Governor of the Bank of Albania, Gent Sejko, with journalists and analysts, the awards for the Best Diploma for the year 2022 in the branch of Economics and Finance were awarded to Pegi Myshqer, Taulant Yzellar and Ilir Brasha.