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Aktualitet

Leku, stronger and stronger/ Experts show the impact: Here's how the Albanian economy benefited from this trend

Leku, stronger and stronger/ Experts show the impact: Here's how the

 The lek has been very strong against the European currency and this, according to experts, has had positive effects on Albania's economy.

During the discussion on a television show, the expert on Financial Affairs Brunilda Isaj said that inflation has not affected the decrease in demand for consumption, adding that the Albanian economy is a developing economy and from time to time it has reflected satisfactory stability.

She also explained the reasons why the euro has lost ground against the lek in the market.

"Banks have not been conservative, but they have been cautious. We are a developing economy. There is a stability, there is a productivity remains stabilized and not necessarily the inflation has been translated into the contraction of the demand for consumption. Remittances are high and such a large amount that comes from all possible sources the possibility of a very low quote compared to the lek. Tourism and the real estate market have increased the amount of euros. The euro has lost ground in the two six-month periods. Economic growth remains stable," she said.

Dritan Vakaj, Director of the Association of Foreign Exchange Offices, emphasized the growth of tourism, but also remittances, have influenced the euro currency to be in large quantities on offer, and as a result, this has reflected in its weakening compared to the lek.

"What has been unanimous is precisely that the appreciation of the lek has affected the amortization of imported inflation. It has had a noticeable effect on the economy sector. The growth of tourism is very important, remittances are high and credit in euros has an important weight for the fall of the euro", he emphasized.

The deputy head of Monetary Policy at the Bank of Albania, Rajna Hoxholli, said that the increase in the value of the lek against the euro has influenced the softening of the terms of imported inflation.

"So the appreciation of the exchange rate has helped us in terms of inflation", she said.