Zaçaj: Albanian economy remains stable in the face of global uncertainties
The First Deputy Governor of the Bank of Albania, Holta Zaçaj, participated in the Constituency Meeting of the International Monetary Fund (IMF) and the World Bank Group (WB), held on July 6-7 in Lisbon, where global economic developments, macroeconomic challenges and priorities of international financial institutions were discussed.
The meeting brought together central bank governors, finance ministers and representatives of the Constituent Assembly member countries, who exchanged views on the impact of geopolitical tensions, inflation, economic growth, financial stability, as well as developments in the field of artificial intelligence and its effects on the economy.
During the discussions, Zaçaj presented the latest economic developments in Albania, emphasizing that "the Albanian economy has continued to demonstrate resilience in the face of uncertainties in the external environment."
She underlined that "economic growth remains solid, supported by domestic demand, tourism and credit expansion, while inflation continues to fluctuate near the Bank of Albania's target."
The Deputy Governor emphasized the role of the Bank of Albania in maintaining price and financial stability through a prudent monetary policy, assessing that the Albanian banking sector continues to be characterized by high capitalization, sufficient liquidity and historically low levels of non-performing loans.
In her speech, Zaçaj also focused on the importance of continuing structural reforms and the European integration process, emphasizing that "the operationalization of SEPA transfers constitutes an important step towards financial integration with the European Union."
Speaking about artificial intelligence, she emphasized that this technology creates opportunities for increasing efficiency, improving data analysis, and strengthening supervisory processes.
"The Bank of Albania aims to build an internal framework for artificial intelligence, in line with European Union standards, guaranteeing a responsible, transparent and secure use of this technology," said Zaçaj.
At the end of the meeting, the participants reaffirmed the importance of coordinating economic policies, strengthening international cooperation, and exchanging experiences to address global challenges and support sustainable and inclusive economic growth.
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