“EBF”: Albania, one of the fastest growing countries in Europe

The European Banking Federation (EBF) has dedicated a special profile to the Albanian economy and to the banking sector. Albania’s profile opens with the assertion that the Albanian economy is one of the fastest growth in Europe, with a 3.8% rate over the last year.

“Private domestic demand is the main engine of economic growth, while the growth of exports has given an additional stimulus over the last few years. Unemployment has fallen and the public debt is downward, “- it’s said.

About the inflation, a 3% gradual increase is projected towards the Central Bank’s target,while demand and raw material prices increased globally. The European Banking Federation further underlines the fact that Albania’s European perspective is necessary to continue with the implementation of reforms, and consequently with a faster and more stable increase in revenues.

Even the financial system, and the banking system, which accounts for 93% of it, are rated at high marks. Exposure of the banking sector to the non-banking sector is estimated to be low.

SCAN

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