The Bank of Albania approves the medium-term development strategy and the budget for 2025

2024-11-20 20:12:00, Ekonomi CNA

Bank of Albania

The Supervisory Council of the Bank of Albania approved in today's meeting the Medium-Term Development Strategy of the institution for the period 2025-2027.

The Medium-Term Development Strategy of the Bank of Albania defines the institutional objectives of the Bank of Albania for the period 2025-2027, also serving as a guide for the preparation of the medium-term indicative budget.

According to the announcement of the Bank of Albania, the strategy aims to provide a proactive response to the challenges of the environment in which the Bank of Albania operates; to increase cooperation within the institution; to promote the effective and efficient use of resources; and promote transparency and public accountability.

It includes the main functions of the BoS: policies (monetary policy, foreign exchange reserves, banking supervision, macroprudential policy), financial infrastructure (money issuance, payment systems); horizontal functions (research, statistics); and support services (human resources, internal control, accounting and IT).

Information on the implementation of the Medium-Term Development Strategy is a regular part of the annual reports of the Bank of Albania.

In addition, the Supervisory Council approved the budget of the Bank of Albania for the year 2025 and the medium-term indicative budget for the years 2026-2027

According to the announcement of the Bank of Albania, the approved budget for 2025 and the mid-term guideline for the years 2026-2027 guarantee the fulfillment of the institution's strategic objectives provided for in its Medium-Term Development Strategy.

In its drafting, the current situation in the international financial markets, economic and financial developments within the country, current and capital expenses necessary for the good administration of assets and human resources were taken into account.

The budget of the Bank of Albania for the years 2026 - 2027, among other things, aims at the further improvement of the framework of policy and monetary operations, the further development of the professional capacities of the Bank of Albania, the supply of the economy with quality banknotes, the careful processing of as well as improving communication and transparency with the public.

At the same time, the budget supports making the necessary investments for the improvement of the technological infrastructure, the security infrastructure and the premises where the activity of the Bank of Albania is exercised./ Monitor.al