“Judicial reform is a major turning point for Albania”
FIAA: What is your perception of the Albanian economy currently?
Mr. Reinke: We have been saying for some time that a modest recovery is on the way. We see growth rates rising slowly — perhaps a bit too slowly — but nonetheless the outlook is positive. We remain somewhat concerned about the still high level of non-performing loans in the banking sector and very slow credit growth.
If we look at the performance of the economy in a regional and global context, it’s doing quite well. Both the recovery in the Eurozone and the current performance and outlook for emerging markets globally are much worse than we were expecting at the beginning of Albania’s programme with the IMF. Nonetheless Albania is continuing to recover. It is a broad-based recovery affecting all the sectors.