Stabilizing the exchange rate, the Minister of Finance meets with the Governor of Bosnia and Herzegovina

The Minister of Finance and Economy, Ervin Mete, held a meeting with the Governor of the Bank of Albania, Gent Sejko, where they discussed the latest economic developments, the cooperation between the two institutions, as well as the expectations for the future.

Minister Mete and Governor Sejko assessed that the country's economy has shown stability in facing successive shocks, since the earthquake, the pandemic and the energy crisis as a result of the war in Ukraine.

Despite the unfavorable global situation, they estimated that the latest forecasts continue to remain positive for economic growth in the medium term. The services, tourism and construction sectors have played a key role in economic growth.

It is learned that other issues of discussion in the meeting were the progress and measures for the stabilization of the exchange rate, the promotion of credit, advancement with the payment system, etc.

Also, the Minister and the Governor talked about deepening cooperation and institutional coordination within the Financial Stability Advisory Group (FSG), with the aim of agreeing on a joint action plan. On this occasion, the stability of the financial system was evaluated, which has significantly improved the qualitative and quantitative indicators.

The minister emphasized the importance of accelerating public investments to further stimulate the country's economic development. "The labor market continues to remain strong, with unemployment at historic lows and employment and participation increasing. Fiscal policy remains cautious in reducing financing risks and prioritizing public expenditures with an impact on the country.

The parties discussed the expectations regarding inflation and its effects on the economy, as well as the Bank of Albania's forecasts for the return of inflation to the levels targeted by the monetary policy," the Ministry of Finance announced.