The BQ envisions economic decline of 7.2 per cent

Governor Fehmi Mehmeti has said this at a news conference, stressing that the banking sector is stable, liquid and with positive business.

“Reporting the situation that cash ready at the BEC has been accurately reflected, fair and timely. This testifies to the effective internal control system in the CEC by reducing the possibility of various frauds and mistakes”, Mehmeti has indicated.

He has said that as an institution, he has predicted the economic downturn the country will suffer as a result of pandemic.

“7.2 per cent predicts the economic downturn according to the BCQ. Causers behind the fall are with measures taken to prevent the spread of the COVID-19 virus. One of the factors that has contributed to aggregate demand is the decline in visits by the diaspora”.

Mehmeti has said remittances from the diaspora this year have marked increases.

“643 million are this year, while last year the remittances were 608.6m euros”.