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Albanian banking system healthy, well-capitalized: central bank

Xinhua, October 27, 2016 Adjust font size:

The Albanian banking system is healthy and well-capitalized and is able to support and finance business, Albanian central bank governor Gent Sejko said here on Thursday.

Speaking at a high level conference focused on the expansion of monetary policies and financial stability, Sejko said the Albanian economy is in a positive trend. Economic growth is expected to mark a progressive improvement over the next three years while this growth continues to be fueled by the recovery of private domestic demand, he explained.

Economic recovery is due to the easing of monetary policy implemented by the Albanian central bank, improved funding conditions and an increase of confidence in the private sector, Sejko said.

According to the governor, the acceleration of economic growth in Albania confirms the dynamism of the private sector here. This development is encouraging, given that the fiscal policy pursued during this period focused on the soundness of public finances, while macro-prudential policies and measures of the Bank of Albania aimed to further strengthen financial stability.

The banks' lending abilities have also improved, and will continue to do so, Sejko said. Endi