PRESS RELEASE
Questions and answers at the press conference, 29 May 2012

Question: As you noted in your speech and as you have frequently stated in the recent months, the Albanian economy is growing below its potential and there are signs of further deterioration. Last week, Prime Minister Berisha announced the opening of debate with the business community and academic circles about ways and mechanisms to stimulate the economy. Do you have any concrete suggestions?

Answer: The economic and financial debate in the country and the economic and political developments worldwide lead to the conclusion that future developments in the global economy should aim at structural growth. This means that the basis for future economic growth lies in the undertaking and deepening of structural reforms in the country and beyond. This will be achieved through international coordination, which will aim at creating a new economic and financial structure in view of enhancing prudence and international surveillance. I think we are along this line. In today's discussion, the Bank of Albania concluded that safeguarding macroeconomic and financial stability is key to our country. These two parameters create adequate conditions for a medium-term stable economic growth. The Bank of Albania provides its valuable contribution, by keeping inflation under control and safeguarding financial stability at home, and ultimately, supporting all drivers for a stable economic growth. It is very important that the Albanian economy maintains the macroeconomic balances in order to be attractive to foreign investment and, subsequently, generate stable economic growth. Continuing structural reforms is key to maintaining all parameters set.

Albania is a privatized economy, implying that the drivers of the economy need to be looked for in the market. The Bank of Albania is committed to this initiative. We will hold a meeting with the Albanian Association of Banks and offer the Bank of Albania's active support to the country's economic growth, encouraging banks to find the alternative ways, opportunities and products, in order to boost demand and steer private investment towards capital investment. I believe this will be an additional point of discussion in our debate with the market and relevant agents, with a view to enhancing Albania's competitiveness and drafting a medium-term growth agenda that is attractive to foreign investment.

Question: Mr. Fullani, would you be willing, if proposed, to give up your mandate [as Governor] and be elected as President and thus end the political crisis?

Answer: I already have a mandate, which is very important not only to the Albanian economy, but also to the entire country. I am committed to giving my utmost best for this mandate to be successful and ensuring that the challenges we have taken on, reach the finish line successfully. This is the only path for Albania's calm progress, with macro-financial stability in place to ensure long-term economic growth.