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Gent Sejko reveals the reasons/ Why leko has strengthened

2023-08-02 16:22:00, Ekonomi CNA
Gent Sejko reveals the reasons/ Why leko has strengthened
Governor of the Bank of Albania, Gent Sejko

The governor of the Bank of Albania, Gent Sejko, has revealed the reasons for the strengthening of the lek against the euro and foreign currencies, which have declined.

In a press conference, Sejko said that the strengthening of the lek was influenced by the rapid growth of income from tourism, by the continuous reduction of the coherent account deficit as well as by the high values ??of coherent foreign investments.

" The exchange rate of the lek against the euro has continued to strengthen during 2023. In annual terms, where the strengthening recorded an average value of 8.5% during the second quarter and accelerated further in the month of July, registering a value of 12.1%.

Our analyzes suggest that the strengthening side of the exchange rate is in line with the improvement of the balance of economic and financial exchanges abroad, influenced by the rapid growth of income from tourism, by the continuous reduction of the deficit of the coherent account as well as by the values high coherent foreign investment.

Also, the strengthening of the exchange rate is consistent with the increase in public confidence in our national currency and the reduction of risk premiums in the domestic financial markets ", he emphasized./ CNA.al





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