BoA governor declares central bank will keep inflation at target 3%

SARANDA, Sept. 25- BoA governor, Ardian Fullani, declared that his institution will take all necessary measures to keep inflation under control. ” BoA remains committed to keeping inflationary trends under check and keep its target inflation rate at three percent. Our policies and decisions will serve this aim,” Fullani said in Saranda. The governor participated in a meeting with local authorities, banking sector employees and business community representatives from the southern towns of Albania including Saranda, Gjirokastra, Delvina, Tepelena, P쳭eti, and students from the University of Gjirokastra . This meeting was part of the institutional dialogue that BoA is trying to establish with different interest groups. Fullani focused on some of the main decisions of the Supervisory Board of BoA. Price stability is one of the priorities of BoA, according to the governor. Another issue that was discussed was developing the financial market and especially the banking section which has room for improvement.
The Albanian banking sector is healthy, capitalized and, in general, profitable. The main strategy has been to consolidate it though mergers and acquisitions in order to attract foreign investors with reputation, prestige and experience in the financial markets. Fullani has also warned that the banking sector has more to do in order to increase efficiency, especially as far as risk management is concerned. (Tirana Times Staff)