far economic activity performance and projections for 2013 support the outlook for positive economic growth close to the previous year ’ s figure. foreign demand is expected to contribute positively to albania ’ s economic growth, but this contribution is expected to be lower due to unfavourable developments in trading partner countries and relatively low diversification of albanian exports. private demand is also expected to be positive, taking advantage of monetary stimulus growth and domestic savings utilization. finally, the public sector is also expected to provide a positive stimulus. despite the positive growth, the economic activity in albania is expected to remain below its potential during the current year and the demand - side inflationary pressures are expected to remain low during this time horizon. the bank of albania deems that with a 90 % probability, the annual inflation as to four quarters ahead is forecasted to fluctuate within the 0. 8 – 3. 8 % band. low annual inflation rates and forecast for their continuation over the monetary policy time horizon dictate the maintaining and strengthening of the stimulating monetary policy over the next four quarters. * * * considering the information summarised above, the supervisory council deems that consumer price pressures in albania remain weak along the monetary policy time horizon and have shifted downward during the last months. concluding, the supervisory council decided to lower the key interest rate by 0. 25 percentage points, to 3. 75 %. this decision aims to create appropriate monetary conditions to meet the medium - term inflation target. the easing of monetary conditions keeps the short - term financial market interest rates low, encouraging the activity and decreasing the related liquidity trading premia. by lowering the financing costs, the bank of albania aims to increase consumer loans and investments in the economy. this transmission mechanism promotes the aggregate demand, and under current circumstances, creates appropriate conditions for meeting the medium - term inflation target. bis central bankers ’ speeches

gent sejko : green finance in south east europe - developing capacities and a taxonomy welcome address by mr gent sejko, governor of the bank of albania, to the high - level conference on " green finance in south east europe : developing capacities and a taxonomy ", tirana, 22 june 2023. * * * dear ladies and gentlemen, honourable minister ibrahimaj, dear colleagues, welcome to the high - level conference on " green finance in south east europe : developing capacities and a taxonomy ". first, i would like to extend my sincere gratitude to the cef ( centre of excellence in finance ) for the organisation of this conference and for providing the possibility to share our opinions on a rather important issue for the future of our countries and planet. the cef is a strong and reliable partner for us, with which we will continue to cooperate to build up policies for guaranteeing the macroeconomic and financial stability. through its events, the cef contributes in achieving the goals set forth in the 2030 agenda for sustainable development, by promoting effective, responsible and comprehensive institutions across all levels. we are aware that climate change is a threat to human well - being and planetary health. these risks, either of physical nature - due to the extreme weather events - or transitional ones, are complex to be both understood and assessed. this complexity becomes more pronounced in the absence of a common language or a taxonomy, as well as due to the lack of sufficient data, empirical models and methods to asses these risks, whose nature is known, but their extension and impact on the financial sector are neither defined nor evaluated properly. global awareness related to the actions to face the increasing risks is edging up. in 2015, countries signing the paris agreement were committed to cut greenhouse gas emissions ; subsequently, the eu established the ambitious goal to become the first climate - neutral continent by 2050. the financial sector plays an important role in reaching this goal, through selecting and financing green projects as well as by preserving the demand - supply balance in markets. at the same time, financial sector is especially exposed to climate change - related risks. public institutions in the eu and the european system of central banks are frontrunners in shaping the global regulatory environment, and have adopted some of the best evolving practices available so far. their examples have inspired the other institutions and central banks across both advanced and emerged economies. 1 / 3 bis - central bankers'speeches understanding the issue of climate change from the perspective of central banks and