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Sejko: Aging and emigration endanger economic growth potential

2025-11-06 11:40:00, Ekonomi CNA

Population aging and labor migration are risks to the country's economic growth potential.

The Governor of the Bank of Albania, Gent Sejko, said today at the 19th Economic Research Workshop for Southeast Europe organized by the Bank of Albania that, despite the positive performance, the economic outlook faces challenges and uncertainty.

" Macroeconomic data in the country point to a positive economic growth performance, accompanied by a favorable climate for long-term economic development, supported by monetary and financial stability. Consumer price inflation has remained at low and controlled levels, monetary and financial conditions are appropriate and the banking system's balance sheets are sound, serving as a key pillar of macroeconomic stability and an active partner in the realization of the country's development objectives."

However, the Albanian economy, but also the global one, is facing numerous uncertainties and a series of new challenges that require a strategic approach and flexibility in macroeconomic policies.

Global uncertainties resulting from geopolitical tensions, changes in supply chains, and fluctuations in international energy and food prices continue to affect the expectations of economic agents and the country's trading conditions.

At the same time, the transition to a greener and more digital economy requires large public and private investments, increased productivity and adaptation of the production structure. On the other hand, demographic changes, such as population aging and continued labor migration, are limiting the supply of human resources, affecting the long-term potential of economic growth,” said Sejko.

According to him, in this new, almost unpredictable environment, sustainable economic growth and maintaining macroeconomic stability is a challenge in itself, which requires prudent monetary and fiscal policies, increased efficiency of financial markets and their further development.

He emphasized that significant transformative reforms are needed to increase productivity through: innovation, investment, improving the business climate, increasing competition, building better digital structures, and broader financial and economic inclusion.

"The role of the Bank of Albania is undoubtedly and will remain essential in this journey to guarantee macroeconomic and financial stability. Our vision is clear: to strengthen institutional capacities, deepen cooperation with domestic and international partners and contribute to building a more stable, inclusive and resilient economy to external shocks, " he said./ Monitor