contrary to expectations, interest rates have not risen recently. this is due to the turmoil in the financial markets. in this situation it would be somewhat remarkable if the danish government still proposes an expansionary fiscal policy in 2008. when preparing the new finance bill for 2008, the government should reassess its fiscal policy with a view to easing the pressure on the economy. omitting to do so may entail tougher requirements at a later stage. next spring will bring collective bargaining within the public sector. among public - sector employees there are expectations of sizeable pay rises, supported by recent years'shortage of labour and focus on the quality of public - sector services. several political parties have spoken in favour of an extraordinary wage boost for large or small groups of public - sector employees via a special pool of funds earmarked for this purpose. i would like to issue a strong warning against making wage bargaining in the public - sector labour market a parliamentary issue at this stage. the risk that the parties will attempt to outdo one another is imminent, and premature intervention by the politicians prevents genuine bargaining. this could set a very unfortunate precedent. as if that was not enough, next spring will also see collective bargaining in the financial sector. i therefore take this opportunity to point out that the results in this sector may send a signal to the rest of the labour market. finally, i would like to thank the danish bankers association for our fine cooperation. i look forward to continuing along the same positive lines.

parallel, the key economic and financial indicators : public debt, external debt, 1 / 3 bis - central bankers'speeches and the non - performing loans ratio, have improved considerably. in particular, inflation is three times lower than in 2022, down to 2. 2 %, while indicators of the banking sector soundness stand at positive levels. all of these factors, have enabled – among other things – the improvement of albania's credit risk rating by international institutions. the enhanced interest of foreign investors for albania has been another positive development as well. our country has welcomed an ever increasing number of visitors in recent years, ranking third in the world for the fastest growth in tourism in 2023. likewise, foreign direct investments have picked up progressively from year to year, confirming albania's attractiveness as a compelling destination for investments. the bank of albania has actively contributed to this progress by addressing elevated inflation in a timely manner and carefully supervising the banking sector. in addition, investments for developing the payment system, innovation, and the digitalization of financial services have played a key role in strengthening economic stability and the development of the financial sector. we believe that albania's outlook remain positive. however, global trends trigger a complex environment, which poses challenges and opportunities for the future. next, i will briefly address some of them : first, one of the biggest challenges for the albanian economy is improving productivity and achieving a competition level comparable to that of european advanced countries. despite the improvements achieved so far, albania still has to work for reaching an economic structure oriented toward high - value - added sectors. second, the ageing population and the elevating shortages of the labour force is a complex challenge with consequences on the albanian economy as well as on the european and global economies. this process affects both the labour market and the long - term prospects for economic growth and the sustainability of the pension system and public debt. third, another challenge is the impact of climate change on vital sectors such as agriculture and tourism, which are sensitive to it. these two sectors, in addition to directly affecting the economic activity and employment, represent also a great potential for the development of the albanian economy in the future. an integrated approach coupled with a strategic vision is needed to addressing these challenges. in this context, i believe it is important to undertake certain steps : first, investments in the modernization of physical and digital infrastructure, the development of scientific research, the updating of managerial philosophy and practices, and the improvement of business climate in