Having such a system in place may lead over time to major progress in both the structural analysis of the euro area and the assessment of the current economic situation. Fully integrated sectoral accounts provide the ideal framework for analysing the structure of the economy and its changes over time as well as the propagation of shocks through the system. This helps to gain further insights into the monetary policy transmission mechanism and the relative importance of the various transmission channels. At the same time, monitoring a wide range of key indicators in a single macroeconomic accounting framework provides a coherent picture of the current economic situation. This is particularly important in the context of the ECB’s monetary policy strategy, which takes into account a broad range of indicators. Integrated financial and non-financial sector accounts provide a framework for analysing the link between the financial and the real economy - an issue notoriously difficult to analyse on the basis of the currently available analytical framework. An integrated system of quarterly sector accounts would also provide a powerful information basis for forecasting, allowing what is nearly impossible today, namely the integration of monetary and financial variables in macro-econometric models. Of course, many of these uses will only be possible once an integrated system of sectoral accounts has been available for quite a number of years and with an appropriate timeliness. But being forward-looking and developing visions is of great importance in the field of statistics.
Given the balancing of above stated developments, the accelerated growth of exports has provided a positive contribution on the total demand and on the economic growth. Exports climbed by 45.1 percent in annual terms, during the first quarter of 2010, whereas imports recorded an annual drop by about 2.3 percent. Accelerated upsurge of exports and the fall of imports at more moderate paces led to the contraction by about 17.1 percent of trade deficit, pursuing the trend observed even during the second half of 2009. The ratio of imports covering from exports pointed to 35.4 percent, about 11.6 percentage points higher than in the previous year. The above stated developments in the foreign economy sector have established a more sustained balance of the supply and demand for foreign currency, thereby providing a higher stability of the domestic currency value during the last months of year. It is needed this momentum adopts a stability over the medium term, through the accelerated implementation of facilitating supporting policies. Economic background and monetary developments have established an environment with moderate inflationary pressures. Annual Inflation in April pointed to 3.5 percent, thereby recording a drop of 0.4 percentage points relative to March 2010. The return of inflation within the target of the Bank of Albania was an expected development, forecasted previously. Consumer price inflation in Albania, during the last months, owes to a greater extend, to the increase of administered prices, the uprising trend of prices in the world conjuncture and by the subsequent effects of exchange rate depreciation on inflation.