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The Albanian economy does not exceed 3% growth in the most pessimistic scenario, in case the Russia-Ukraine war escalates further.
This is the assessment of the Bank of Albania according to which the consequences of the price crisis will be long-term and will hit both Albanian families and businesses.
“We have up to -1% reduction of the economic growth rate, ie from 4% to 3%. Porn’s most negative impact economic growth will fluctuate between the 2-3% level. “War risk scenarios mean they can have 1-2% hitting points.” said Sejko
According to Governor Gent Sejko, high prices will keep inflation above the facility for the next two years. To amortize the effects of the crisis, he recommends support for the needy.
“Inflation can fluctuate between the level of 5-6%. “Prices will remain high at least in the second half of 2022. Economic policies must protect the most needy from the consequences of the blow, also through fiscal policy so as not to translate into increasing public debt.”
Any policy undertaken for crisis management, Sejko adds, should be done keeping in mind the level of public debt, as its further increase endangers public finances.
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