Albanian Central Bank Governor Gent Sejko said the economy maintained solid growth during the first half of the year. INSTAT data show that economic activity grew by 3.6% in the second quarter, slightly below the previous quarter. Consumption and investment drove most of the growth, while net exports made a marginal positive contribution. Meanwhile, fiscal policy continued to focus on consolidation.

Construction and services led growth, while industry and agriculture continued to contract. Sejko said available data also point to similar economic trends in the third quarter.

The stronger economic activity also supported the labour market. Unemployment fell to 8.3% in the second quarter, close to its historical low. Non-agricultural private-sector employment grew by 2.3%, while average wages increased by 11.5% year on year.

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