Quarterly Monetary Policy Report, 2023/IV

The Albanian economy has exhibited a good resilience to the adverse shocks caused by the rapid upsurge in prices in global markets, originating from the war in Ukraine. Economic activity has been growing in the first half of the year, enabling an increase in employment and wages and an improvement in the financial situation of enterprises. In parallel, both public debt and the foreign debt of the Albanian economy have been reduced, the lek exchange rate against foreign currencies has appreciated, the non-performing loans ratio has remained at low levels, and the overall financial situation of the banking sector appears sound.