Fair competition and new securities exchange are the key to economic future: BoA’s Sejko

Governor of the Bank of Albania Gent Sejko said on Thursday during the annual report to the Albanian Parliament that A higher economic growth would require improvement of the business climate and further development of financial markets.

The Governor reiterated the optimism that in the coming years, demand growth will boost higher output, employment and wages in the economy.

But, according to him, in a longer-term horizon it is imperative that the business climate improves, especially in terms of guaranteeing fair competition.

He put a special emphasis on the need to expand financial markets.

If lending so far has relied almost entirely on the banking system, the growth and further dynamism of the economy will necessarily require the development of the stock markets and the stock exchange instruments.

The Bank of Albania estimates that low interest rates contributed by 0.7 percentage points to last year’s economic growth, thus becoming an important factor in the recovery of economic growth.

According to official statistics, last year, the Albanian economy grew by 3.84% and 79,000 new jobs were created.

SCAN

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