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The governor of the Bank of Albania, Gent Sejko, commented today on the country’s economic situation and the impact that the war in Ukraine has had on the Albanian economy.
During his speech today, Sejko spoke about the seriousness with which the crisis created by the war in Ukraine should be managed, as he says that Albania is facing numerous challenges.
Sejko stopped at inflation, where he emphasized that it was 8% in August, while adding that the main focus of economic policies should be its mitigation and return to the target.
“Bank of Albania has been engaged in talks with the IMF within the framework of article 4. Global challenges and structural reforms have been in focus. Overall, I find that Bank of Albania and IMF have shared similar approaches to progress.
The war in Ukraine has affected serious challenges in our country as well. Inflation in August reached 8%, which affects macroeconomic stability. This inflation damages the country’s long-term development prospects. The main focus of economic policies should be taking coordinated measures to mitigate inflation and return it to the target. Bank of Albania has focused on the gradual normalization of monetary policy.
Our projections for the future suggest that inflation will remain high for the next 2-3 months. further stabilizing the markets will bring a reduction in inflation.
/abcnews.al
