BANK OF ALBANIA
On the end-of-year meeting of Governor Sejko with the media
Publication date: 20.12.2018
On 20 December 2018, the Governor of the Bank of Albania, Mr Gent Sejko, met with renowned publicists, experts of politics and economy, journalists and representatives of the print and electronic media on the occasion of the traditional end-of-year event.
In his opening address, Governor Sejko thanked the media representatives for the readiness, objectivity and seriousness shown in covering the activities of the Bank of Albania and informing the public about them throughout 2018.
The Governor highlighted that communication is a very important process for a central bank, and that without the help and objectivity of the media, the realisation of Bank of Albania's decision-making regarding monetary policy and financial stability would have been an impossible mission.
He extended his gratitude to the media for their constructive role in reporting news items related to developments in the economy, finances, money, the banking system, inflation, financial stability, as well as to the risks towards which our economy is exposed.
In conclusion, Mr Sejko assured the media that the Bank of Albania will continue to be an open and very loyal institution vis-à-vis the media and that it will be continuously open to communication with regard to the entire spectrum of economic, financial, contemporary, professional and unbiased news.
During the end-of-year event, the three winners of the “Governor's Award for the Best Diploma Thesis 2018” were announced. This annual event is dedicated to Albanian students graduated in Albania and abroad, for scientific research on issues related to the integration, international monetary and economic developments, price and financial stability, etc.
The first prize was awarded to Ms Migena Musli, a student at the Mediterranean University of Albania, by the Governor of the Bank of Albania, Mr Gent Sejko, for the study on “Foreign investments in Albania. The case of natural resources as an investment potential”.
The study assesses that the rich natural resources and the legal and financial frameworks are favourable to attract more foreign investments. Beyond the theoretical and comparative treatment, the author has documented natural resources and their advantages for foreign investors in the case of Albania. The study brings an optimistic view and conveys a signal of hope, reiterating that Albania has rich potentials ready be exploited and utilised with responsibility.
The second prize was awarded to Mr Donald Vullnetari, a student at the University of Tirana, by the Member of the Supervisory Council of the Bank of Albania, Mr Tonin Kola, for the study on "Inflation dynamics in the Neo-Keynesian Phillips curve perspective: The case of Albania”.
The study was rigorous and the analysis was conducted based on an adequate economic literature. Moreover, the study is based on econometric assessment methods, addressing the issues related with the inter-dependence of the indicators and the precise specification of the model. The results show a positive correlation between inflation and the output gap, and evidence the fact that inflation expectations are backward-looking, where the past is important for the formation of inflation expectations for the future.
The third prize was awarded to Mr Klisman Ndoje, a student at the Université Libre de Bruxelles, by the Second Deputy Governor of the Bank of Albania, Ms Natasha Ahmetaj, for the study on “Albania: Transition from Equality to Inequality”.
Poverty and inequality are the two main themes that currently dominate not only the economic but also the political and social debates. Encouraged by the aspects or side effects of rapid economic development as a result of globalization, transition or other phenomena, these two themes have become a driving force with a significant impact on political and social events. The study has a comprehensive and efficient explication of the phenomenon, methodology and results presented.