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The devaluation of the euro and the strengthening of the lek/ Ibrahimaj, worried

2023-07-04 12:01:00, Ekonomi CNA

The devaluation of the euro and the strengthening of the lek/ Ibrahimaj, worried

Throughout 2023, we have seen a significant devaluation of the euro in relation to the lek.

The Minister of Finance, Delina Ibrahimaj, in a media conference, listed the reasons for this devaluation.

" The most sensitive has been the performance and strengthening of the lek compared to the euro. 

The increase or strengthening of the lek against the euro comes as a result of the structure of the economy and performance, especially with the strengthening of exports, exports of services related to tourism, but also the increase of foreign direct investments that have brought capital in foreign currency which have influenced the strengthening of exchange rate.

This phenomenon is a consequence of the exchange rate regime we have. This regime has had a positive impact on the absorption of shocks that the Albanian and global economy has suffered. One of the elements that has kept inflation at controlled rates apart from government policies has been the flexible exchange rate that has allowed imported inflation, which makes up the majority of domestic inflation, to have a lower impact than it would otherwise. if we had a fixed exchange rate", said Ibrahimaj. / CNA





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