Albania's future is threatened by emigration. The aging population and the emigration of the workforce are risks to the country's economic growth potential. The concern was once again raised by the governor of the Bank of Albania, Gent Sejko.
"Unfavorable demographic developments and structural changes in the labor market are making the economic environment more complex. All these trends are putting financial systems and monetary and economic policies in the face of new challenges and complex innovations, which require in-depth analysis, a better understanding of cross-sectoral actions, and decision-making based on evidence and scientific rigor," said Sejko, according to A2 CNN.
Speaking at the 19th Workshop of Economic Research for Southeast Europe, Sejko also pointed out other external factors that threaten the country's future. "Global uncertainties as a result of geopolitical tensions, changes in supply chains and fluctuations in international energy and food prices continue to affect the expectations of economic agents and the country's trading conditions. At the same time, the transition towards a greener and more digital economy requires large public and private investments, increased productivity and adaptation of the production structure. On the other hand, demographic changes, such as the aging of the population and the continuous emigration of the labor force, are limiting the supply of human resources, affecting the long-term potential of economic growth," said Sejko.
Therefore, it is urgent to move towards policies that consider the individual as the most valuable capital of society. “In this new, almost unpredictable environment, sustainable economic growth and maintaining macroeconomic stability is a challenge in itself, which requires prudent monetary and fiscal policies, increased efficiency of financial markets and their further development. In this context, important transformative reforms are needed to increase productivity through: innovation, investment, improvement of the business climate, increased competition”.
The Bank of Albania expects economic growth to continue at solid rates, driven by tourism and investments. (A2 Television)
