Meta: Bank of Albania, Role in Country's Economic Growth
Albanian Daily News
Published November 9, 2017
President of the Republic, Ilir Meta participates in the annual conference organized by the Bank of Albania in cooperation with the South East European Studies Center at the University of Oxford focused on the developments in the banking market and financial market infrastructure.
During a brief speech in this conference organized on Thursday the head of state praised the Bank of Albania for its role in mitigating and managing the effects of the global financial crisis.
"The accommodating monetary policy implemented by the Bank of Albania has contributed to the growth of the domestic economy and to the mitigation of the financial burden on private borrowers through the facilitation of financing conditions and the expansion of crediting in the Albanian currency," declared Meta.
Meantime the head of state underlined the fact that the economic growth model has significant shortcomings while adding that the workforce qualification in the labor market remains still far from the requested parameters.
"Albania's economic growth pattern continues to be characterized by significant shortcomings, which should be addressed as soon as possible. The sectors' diversification rate remains low with services accounting for about 45% of Gross Domestic Product (GDP)," declared Meta.