1. 6 % for 2024 ( cf. table 1 ). without today ’ s snb policy rate increase, the inflation forecast would be significantly higher. global economic outlook let me turn to the economic outlook worldwide. global economic growth has slowed markedly recently. this slowdown is on the one hand attributable to the high level of inflation, which is weighing on purchasing power and thus reducing demand. on the other hand, the uncertainty stemming from the war in ukraine as well as the coronavirus lockdowns in china are curbing the development of the global economy. that said, unemployment has continued to decline in many countries. in the advanced economies, it is now back around the low levels seen prior to the pandemic. since march, there has been a further considerable and broad - based increase in inflation in many countries. the war in ukraine has been a significant factor here, too, in that the prices of many commodities have risen as a result. in addition, persisting supply bottlenecks have led to further price increases for various goods. in our baseline scenario for the global economy, we assume that energy prices will remain high for the time being, but that there will not be an acute energy shortage in the major economic areas. the positive development of the economy should thus continue overall. owing to the increased prices for energy and food, coupled with the supply bottlenecks, inflation is likely to remain high for some time. however, the importance of these factors should diminish over the medium term. with monetary policy also becoming increasingly tighter in many countries, inflation is likely to gradually return to more moderate levels. our scenario for the global economy is subject to significant risks. for example, inflation could rise further and thus weigh even more heavily on real incomes and consumer demand. at the same time, high inflation could become entrenched as a result of increased secondround effects, requiring stronger monetary policy responses in other countries. finally, there are still important downside risks to growth from the war in ukraine and the pandemic. page 2 / 5 berne, 16 june 2022 thomas jordan news conference swiss economic outlook i now come to developments here in switzerland. the swiss economy has continued the favourable development it has shown since the beginning of the year. after modest growth in the fourth quarter of 2021, gdp increased by just under 2 % in the first quarter of this year. the signals remain positive for the current quarter. the situation on the labour market has

gent sejko : opening remarks - 6th imf and wb constituency meeting opening remarks by mr gent sejko, governor of the bank of albania, at the joint 6th annual costituency meeting, organised by the international monetary fund and the world bank, tirana, 16 february 2024. * * * your excellency, prime minister, dear ministers of finance and fellow governors, allow me, first of all, to welcome you to this annual meeting of our joint constituency in the international monetary fund and the world bank, which is taking place at the new premises of the bank of albania. also, let me highlight that this is a special pleasure for us, along with the minister of finance of albania, as we have the opportunity to provide this welcome at the opening session of this event, for which we are the host country. dear participants, the economic reality in recent years has been challenging. the 2020 - 2021 pandemic and the economic consequences of russia's military aggression against ukraine have been quite serious. however, i believe i am expressing a common opinion if i point out that the resilience of our economies and societies in the face of these challenges has been admirable. in particular, against a global context characterized by a rapid surge in prices, uncertainty and financing costs, we have managed to ensure positive growth rates in the overall economy, in employment and in wages. we have made progress in reducing inflation, and we have safeguarded the overall economic and financial stability of our economies. albania is also part of this encouraging narrative. the year 2023 ended with economic growth at around 3. 5 %, the unemployment rate at historic lows, as well as foreign debt, public debt and non - performing loans ratios below pre - shock levels. in particular, inflation was halved over the past year, down to 4 %, while indicators of the banking sector's soundness remain positive. a surprise in 2023 was an increase in the interest of foreigners in our country. albania welcomed around 10 million visitors, climbing to third place in the world for the fastest growth in tourism and recording – for the first time in its history – a current account surplus. also, the year 2023 is well on its way to being the year with the highest level of foreign direct investments, proving once again the attractiveness of albania as an investment destination. the bank of albania has made its contribution in this regard. we have addressed the increase in inflation in a timely