Albania's economy will perform better in 2015 than in the previous year, the country's central bank governor, Gent Sejko, said Thursday.

Economic activities will continue to expand, driven largely by the private sector, Sejko told a press conference where he presented the latest economic developments and the bank's targets.

Foreign demand is expected to play a small positive role and the speed of fiscal consolidation will be reduced, he was quoted by Albanian Daily News as saying.

Sejko said the performance of the country's economy in 2015 is compromised by floods in the south, but the effect would be temporary and the economy would keep an upward trend in the medium term.

With regard to inflation, the governor said that the rise in inflation in January was in line with expectations, while the rate of inflation was below the target set by the bank.

Economic activities grew 1.4 percent during the first nine months of 2014 and further picked up in the fourth quarter, driven by the strong fiscal stimulus in that period, Sejko said.