PRESS RELEASE
Governor Sejko meets representatives from Moody’s

On 3 September 2024, the Governor of the Bank of Albania, Mr Gent Sejko, met with a delegation from Moody’s Analytics.

During the meeting, Governor Sejko said that the Albanian economy has recorded a positive performance, despite the various and numerous challenges it has faced in recent years. He underlined the fact that Albania has recorded a solid economic growth, low inflation, which has been kept under control, and an improvement in maintaining domestic and foreign equilibriums. Next, the Governor stressed out that the update of our forecasts suggests this positive economic development momentum will continue in the next year as well.

In particular, the Albanian economy is expected to continue growing in the medium-term, at stable and close to potential rates, while inflation is expected to stay close to current rates for the rest of 2024, and return to the target in the first half of 2025.  In this regard, Mr Sejko stated that the prudential normalisation of monetary policy stance succeeded in putting inflation under control, without jeopardising the positive development of Albania and its financial stability.

Next, the Governor presented an overview of the banking sector’s stability. The latter has recorded stable liquidity and profitability indicators. The Governor highlighted that the banking sector has continued to provide the necessary funds for increasing consumption and investments. He said that the Bank of Albania is committed in safeguarding the stability of the banking system and its continuing development through guaranteeing the required regulation and supervision. On the other hand, the Bank of Albania provides its full support to the European integration process, in addition to meticulously adopting all the reforms as required by this process.

On 19 April 2024, the credit rating agency, “Moody’s Ratings” which is separate from Moody’s Analytics - changed Albania’s outlook, from “stable” to “positive”.