Monetary policy report 2011 Q4

The Albanian economy faced challenges in 2011, as regards economic growth and maintenance of macroeconomic balances. In spite of these shocks, the Albanian economy continued to grow in 2011, albeit at lower rates. This growth has reflected the structural improvements of the Albanian economy, the overall sound balances of the economic agents, the utilization of available capacities for macroeconomic stimulus and their success in maintaining the macroeconomic balances. Annual inflation averaged 2.9% in the second half of 2011, down by 1.1 percentage points compared to the first half of the same year.