Ekonomia

Governor Sejko: We expect economic stabilization, but everything depends on the pandemic. The summer season will be a test

Governor Sejko: We expect economic stabilization, but everything depends on the

The country's economy is expected to stabilize in two years. This was stated by the Governor of the Bank of Albania Gent Sejko. He told a news conference that the economic situation was expected to improve and that credit growth was stabilizing the economy, adding that budget revenues had fallen slightly.

The Governor said that however the Bank of Albania forecasts will also depend on the situation with the coronavirus pandemic and that the summer / tourism season will be a test of how economic growth will come:

Excerpts from the statement of Governor Gent Sejko:

Economic activity is expected to stabilize in two years.

Last year closed with a recession. Based on the monetary policy statement, we anticipate economic growth over the next 2 years. Economic growth for this year is projected at 4.9% while next year 4.1%.

The sooner the population is vaccinated, the sooner economic indicators will improve.

Inflation was lower than expected. The performance was influenced by food prices. Economic activity is improving. Fiscal policy will remain simulated.

Lending growth is stabilizing the economy. budget revenues have declined slightly. The exchange rate appears stable. The basic rate for the lek has not changed.

Tourism is a test of how economic growth will come about. Uncertainties are high. Economic forecasts also depend on the pandemic.

Our policy, to promote the national currency.

The tightening of measures against Covid affected employment. The unemployment rate increased at the end of 2020. The unemployment rate increased to 11.8%. Pandemic austerity measures have affected employment.

Budget revenues have declined slightly while expenditures have increased. Credit expansion has been relatively balanced. Increasing performance of accreditation. Increasing demand will require increased employment. The current monetary policy stance remains appropriate.

* Tiranapost.al.