PRESS RELEASE
Decisions by the Supervisory Council, 20 November 2024

In its meeting on 20 November 2024, the Supervisory Council of the Bank of Albania reviewed and decided to:

• Approve the Medium-term Development Strategy of the Bank of Albania for 2025-2027

The Medium-term Development Strategy of the Bank of Albania sets out the institutional objectives of the Bank of Albania over the period 2025-2027, serving also as a guide for preparing the planned medium-term budget.

The strategy aims respond proactively to the challenges of the environment where the Bank of Albania operates; strengthen the cooperation within the institution; promote the effective and efficient use of resources; as well promote public transparency and accountability.

The strategy includes the main functions of the Bank: policies (monetary policy, foreign reserve, macro-prudential policy), financial infrastructure (money issue, payment systems); other functions (research, statistics) and supporting services (human resources, audit, accounting and IT).

Information on the implementation of the Medium-term Development Strategy is a regular part of the annual reports of the Bank of Albania.

• Approve the budget of the Bank of Albania for 2025 and the planned medium-term budget for the period 2026-2027

The budget approved for 2025 and the planned medium-term one for 2026-2027 guarantees the fulfilment of the strategic objectives of the Bank of Albania set out in its Medium-term Development Strategy. The budget takes into account the current situation in international financial markets, the economic and financial developments in Albania, as well as current and capital expenditures, which are indispensable for a good management of assets and human resources.

The budget of the Bank of Albania for 2026-2027, among other things, aims to further perfect the monetary policy and operations framework, further develop the professional capabilities of the Bank of Albania, supply the economy with qualitative banknotes, careful processing of the banknote, as well as perfecting public communication and transparency. At the same time, the budget supports the necessary investments for the improvement of the technological infrastructure, security and the premises where the activity of the Bank of Albania is exercised.

The Supervisory Council was also informed on daily functional and operational activities of the Bank of Albania.