The Bank of Albania reported that Governor Gent Sejko participated in the IMF and Croatian National Bank conference on growth and resilience in central, eastern and south-eastern Europe, where he presented Albania’s recent macroeconomic performance and priorities for European integration, including through payment systems. Sejko cited 2024 economic growth of 4%, inflation of 2.2% (down from 4.8% in 2023), unemployment close to historically low levels alongside rapid private sector wage growth, and credit growth of 16.7%. Growth was attributed mainly to higher tourism income, with the financial system supporting activity through stable lending and accommodative financial conditions; credit growth was described as broad-based and increasingly oriented toward investment purposes. He also pointed to improved sovereign credit risk ratings by international agencies, progress in European Union accession talks through the opening of negotiations on multiple cluster chapters, and Albania’s inclusion in the Single Euro Payments Area (SEPA) as a basis for strengthening economic exchanges with regional neighbours and EU member states. IMF Managing Director Kristalina Georgieva praised Albania’s macroeconomic performance and reform progress, reaffirmed continued IMF technical assistance, and underscored the importance of safeguarding central bank independence.
Bank of Albania 2025-05-30
Bank of Albania Governor Sejko highlights 4% 2024 growth and SEPA integration at IMF and Croatian National Bank conference
Bank of Albania Governor Gent Sejko highlighted Albania's 2024 economic growth of 4% and inflation reduction to 2.2% at an IMF and Croatian National Bank conference. He attributed growth to increased tourism income and stable financial conditions, noting improved sovereign credit ratings and progress in EU accession talks. IMF Managing Director Kristalina Georgieva commended Albania's macroeconomic performance and reform efforts, emphasizing the need to maintain central bank independence.