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During 2023, we had a significant strengthening of the lek against the main currencies of our country's trading partners, Euros and Dollars. The most sensitive was the performance and strengthening of the lek compared to the euro.
In a media conference, the Minister of Finance, Delina Ibrahimi Ibrahimaj, said that the strengthening of the lek against the euro and foreign currencies remains a concern for the Ministry of Finance, while adding that this is a consequence of the increase in investments and exports.
"All the elements I mentioned referring to direct investments, remittances and tourism are related to the main concern of recent times that has come from some business activities in the country, the performance of the exchange rate.
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 the exchange rate of exchange.
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 what would if we had a fixed exchange rate ," Ibrahimaj said.
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