Inflation will soon return to normal, says head of central bank

5 Dhjetor 2022, 11:36Economy TEMA

In his address during the 16th SEE Economic Research Workshop, the head of the Albanian central bank, Gent Sejko said that despite limited direct exposure of Albania to Russia or Ukraine, the macroeconomic scenario changed almost overnight following the Russia’s war in Ukraine. 

According to governor Sejko, Albania is now facing challenges arising from the surge in international prices of energy, tighter global financial conditions, which are likely to persist and the economic slowdown in Europe. Inflation reached 8.3% in October, Sejko added, while according to him, inflation remains the main threat to the macroeconomic stability and to both the stable and long-term growth of Albania.

The head of the central bank said the institution he represents "has undertaken a gradual monetary policy normalization process, ensuring that the speed of this normalization will return inflation to target within a reasonable period of time and with the lowest cost possible to the economic activity."

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