TIRANA, Nov. 13 (Xinhua) -- The economy in Albania has continued its upward trend in 2019, Governor of the Bank of Albania (BoA) Gent Sejko said here on Wednesday during a meeting with the International Monetary Fund (IMF) mission.

According to a BoA press release, Sejko held a meeting with IMF representatives headed by the head of the mission to Albania Jan Kees Martijn.

Some of the issues discussed at the meeting were the macroeconomic developments in 2019 and expectations for economic growth, inflation, exchange rate, banking sector developments, lending and non-performing loans for the future.

Sejko said that economic growth in Albania has continued its upward trend in 2019 though at a slower pace.

According to him, the pace of the economic growth will improve over the next two years, enabling inflation to return to its medium-term target.

Sejko noted that the domestic financial environment in Albania is stimulating and the exchange rate appears relatively stable.

In regard to the banking sector, the governor emphasized that it is stable, with indicators indicating a ready financial environment to further support the country's economic development.

According to Sejko, in the third quarter of 2019 the credit to the private sector recorded an average growth of 7.5 percent.

"Bank loan supply has been increasing due to the continuous improvement of the credit environment and the banking sector balance, which is shown by the decline in the ratio of non-performing loans to 10.6 percent," Sejko said.

In the coming days, the IMF mission will hold meetings with officials of the Ministry of Finance and Economy to discuss issues related to the performance of the country's economy. Enditem

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