Quarterly Monetary Policy Report, 2022/I

The Albanian economy continues to recover at a rapid pace, supported by a broad gamma of factors. Projections about the future remain positive, but the increase in prices in international markets drove to a swift upswing of inflation in Albania and heightened uncertainty about the future. The economic activity in Albania grew by 10.4% in the first three quarters of year, fuelled by: the relaxation of restrictions taken for curbing the pandemic; enhancement of foreign demand; improved business and households’ confidence, increase of public expenditure; and the favourable financing conditions. Our assessments suggest economy has continued to grow in the fourth quarter as well.