Another supply factor that has contributed to low inflation is, as already mentioned, low increases in imported goods prices. Since early 2003, consumer prices for imported goods and services, excluding oil products, have fallen (diagram 8). The fact that the krona appreciated continuously from 2002 and up to the end of 2004 naturally played a role in the low import prices. However, the Riksbank’s forecasts for import prices included an assessment that the exchange rate would strengthen. Nevertheless, import prices excluding oil products have been surprisingly low. What can then explain the high productivity growth and the weak developments in import prices? This is, of course, difficult to know. One hypothesis often used to explain high productivity growth is that the extensive investment in information technology made earlier has begun to show results. Another explanation that I touched on earlier, and which has a bearing on both the rapid productivity growth and the depressed import prices, is the increase in competition. Stiffer competition from China and other low-cost countries has, for instance, contributed to increased pressure for rationalisation in many sectors. This, combined with outsourcing of work to low-wage countries, may have created opportunities to improve productivity at a faster rate than before. In addition, an increasing percentage of Swedish imports are coming from countries with low price levels. This shift in imports from countries with relatively high prices to countries where prices are much lower has probably contributed to keeping down prices of imports to Sweden more than the Riksbank had previously estimated.
Also, in the first five months of 2021, the growth amounted around ALL 10 billion. Meeting the demand of market for cash is achieved through ensuring and planning the sufficient stock of cash at the Bank of Albania, which guarantees the security for both the present and future. Allow me to detail briefly some of the features of these two denominations: The 1000 lek banknote, part of the new series, has a refreshed design, but it retains the same motives presented in the existing one, embedding changes related to the whole configuration of all added and improved elements. The theme of the 10000 lek banknote are the symbol of flag and national anthem - the main symbols of our national identity - accompanied with the portrait of the distinguished poet of the Albanian National Renaissance, at the same time, author the “National Anthem”, Aleksandër Stavre Drenova - commonly known by the pen name “Asdreni”. The presentation of a new series of banknotes means more than a simple change of its image. The Bank of Albania continuously improves the quality of the banknote in circulation, aiming to preserve its integrity. Both new banknotes, like all the other denominations of the new series, contain advanced security features. They are produced with cutting-edge technologies for banknote printing and personalised by denomination. The 1000 lek banknote integrates the raised print in the portrait of Pjetër Bogdani, numerals, lettering, and in the short lines, which help the visually-impaired people to easily identify and recognise the banknote.