They reflect Supervisory Council’s monetary policy decisions, the underlying factors and expected results. The periodic reports of the Bank of Albania publish comprehensive analysis on economic and financial developments, the outlook for the short and long term, and the performance of the banking sector along with the risks facing the financial stability of Albania. Events organised with representatives of the banking system, business community, specialised international institutions are another aspect of our communication with the public. Examples include the Forum on “Promoting credit growth” in April 2015, “Albania Financial Forum III” organised with the International Monetary Fund in June 2015, and a meeting with the banking system discussing on “The economy and banks: present and future challenges” in September 2015. viii. Public education  The launching of the Museum of the Bank of Albania was the main highlight in the area of public education. Designed as an inter-disciplinary museum, it integrates numismatic, historic and educational functions, which contribute to enhancing the financial literacy of the public in general and of the younger generation in particular. ix. European integration  Another important aspect of our work has been the contribution of the Bank of Albania in the context of approximation to the European Union. The Bank of Albania has intensified its cooperation with the European Central Bank, central banks of the European System, and European structures that regulate financial aspects in the EU.

v.  Monetary and financial statistics  Last year was a successful one for the Bank of Albania in its role as one of the three national agencies producing statistics. Expanding statistical information, and perfecting some of the methodologies underlying the statistical product of the Bank of Albania have been evaluated positively by international institutions, making thus significant progress towards the approximation with Eurostat and IMF standards. In 2015, the Bank of Albania published, for the first time, the annual information on the flow of foreign direct investments by country, flow of foreign direct investments by economic activity and situation of foreign direct investments by country and economic activity. vi. Research  During 2015, the Bank of Albania completed over 20 empirical studies and analyses dedicated to problems and potential solutions for issues related monetary policy effectiveness and safeguarding financial stability. During 2015, the revaluation of the Macroeconometric Model of the Albanian Economy was completed. The process improved the identification and interpretation of cause-effect macroeconomic correlations. Research work has been presented in various events and conferences, including those organised by the Bank of Albania, notably, the 9th Workshop of Economic Research in  6  BIS central bankers’ speeches  Southeastern Europe “Rethinking Economic Policies and Central Banks’ Methodologies”, where 20 research papers were presented by central banks, academic institutions and the Bank of Albania. vii. Communication  Enhancing the transparency is a constant priority of the Bank of Albania. During 2015, we have aimed at establishing permanent channels of communication with the public.