Annual Report 2011

Author: Bank of Albania
Printed on: 11.06.2012
Production date: 11.06.2012
Material category : Periodic Publications / Annual Reports
The past year was another year of economic growth for Albania. Data from INSTAT reveal that economic growth during the first nine months of 2011 was about 2.7%, whereas indirect quantitative data suggest an acceleration of the economy during the fourth quarter of 2011. Economic growth was driven by foreign demand and a slight fiscal stimulus. Meanwhile, private investments and consumption remained weak, mainly as a result of uncertainty sourrounding consumers and businesses decisionmakingprocess. Monetary policy has been and is oriented towards respecting our core objective: achieving and maintaining price stability. The policy has been increasingly stimulating, which reflects developments in the real economy and the expected inflation performance.