Bank of Albania and European Central Bank co-organize the regional statistical seminar

Publication date: 13.06.2018


On 13-14 June 2018, the Bank of Albania and the European Central Bank (ECB) co-organized the regional statistical seminar.

The seminar was attended by representatives from central banks of the region and beyond, representatives of INSTAT, as well as other Albanian financial institutions.

The regional statistical seminars are regularly organised by the ECB and provide an important forum for exchanging views on statistical requirements, formulating policies and discussing most recent developments on central bank statistics-related issues.

This year, the seminar was organized by the ECB in cooperation with the Bank of Albania. It provides a platform for discussions and exchanging views on statistics, as one of the most challenging and fundamental issues for central bankers and policy-makers in general.

At the beginning of the welcome speech, the Governor of the Bank of Albania, Mr Gent Sejko, thanked the participants and highlighted the importance of the statistical data processing in the activity of central banks.

Governor Sejko said that reliable, adequate, and timely data is a key element for decision making.

Furthermore, the Governor underlined that, nowadays, it is necessary to be informed and analyse economic data on several dimensions and at a granular extent. For this purpose, the Bank of Albania has worked across several dimensions to enrich and enhance the statistical information.

This improvement has come not only due to the methodological aligning of statistics with the international standards, but also as a factor in the framework of the European integration process.

“Modern statistics may not be perceived without the strong support of the information technology, regarding collection, compilation and dissemination of statistics. In this regard, in 2017, the Bank of Albania finalised the inclusion of all reporting entities to the Bank of Albania in the Electronic Regulatory Reporting System.” - Governor Sejko said.

In conclusion, the Governor added that inter-institutional coordination is key to success for producing multi-dimensional statistical data. He underlined the importance of the cooperation between the Bank of Albania and INSTAT, which has been very fruitful until now and will continue to be successful in the future as well.