Albania’s inflation has dropped to below 3%, marking a key recovery after a surge in prices caused by global market disruptions. The announcement was made by the Governor of the Bank of Albania, Gent Sejko, in a year-end briefing, calling the achievement a “victory” for the central bank.
Sejko credited the country’s monetary policies and the stability of the exchange rate for driving the positive outcome. “We would consider that we have won the battle with inflation,” Sejko said, noting that financial stability is solid and credit levels have increased by nearly 17%. This, he explained, will support Albania’s expected economic growth of between 3.5% and 4% in 2024.
Looking ahead, Sejko also highlighted Albania’s imminent integration into the European payments system. The system, expected to be operational by mid-2025, will save citizens and businesses millions of euros in international transfer fees.
The Governor also pointed to open banking and digital platforms as vital steps toward reducing informality, further boosting the economy’s growth potential.
