TIRANA, December 18 – Albania’s economy continues to grow, led by tourism and investments, the Governor of the Bank of Albania, Gent Sejko, said today.

He noted that after 3.6% growth in the first half of the year, the economy has maintained similar rates in the second half. Data from the real, monetary, and fiscal sectors show further expansion in consumption, investments, and service exports. Tourism services grew 22% in the third quarter, boosting the external position and moving the current account into surplus for the first three quarters in the post-transition period.

Sejko said the labour market mirrors this growth. Unemployment fell to 8.1% in the third quarter. Meanwhile, private sector wages rose 9.8%. However, strong labour demand and a limited workforce continue to put upward pressure on inflation.

Looking ahead, he described medium-term growth factors as solid. A stable private sector, rising confidence, and favorable financing conditions support consumption and private investments. Tourism revenues also continue to provide a positive contribution. Coordinated macroeconomic policies help maintain price stability and strengthen overall resilience.

Sejko added that monetary policy remained accommodative in 2025. The central bank cut the base interest rate in July and maintained an active role in the foreign exchange market to ease exchange rate pressures, supporting financial stability.

Financial markets have remained stable, with low risk premiums and interest rates. Credit to the private sector grew strongly, driven by steady demand and favorable financing conditions. The credit portfolio rose 14.2% year-on-year in October, exceeding recent averages. Key positive developments include steady growth in investment loans, a rapid rise in Lek-denominated lending, and a low level of problem loans at 4.3%.

Sejko concluded that economic forecasts remain positive.

/a.p./