Ministry of Finance opens ALL 83.3 mln bid for advisory assistance in reducing public debt

The Ministry of Finance seeks to improve the management of finances and public debt, spending around ALL 83.3 million for conseling advisory assistance.

The Public Procurement Agency has opened the competition for interested companies, which will remain open until 30 October.

Referring to the public notice, bids can be submitted by foreign companies, since the publication is written in English as well.

This is not the first time that this department opens tendering procedures for the public debt, but the opening of this tender comes following the criticism of the International Monetary Fund in this regard.

In the Concluding Notice of Article IV, published a few weeks ago, the IMF estimated that the debt or potential obligation arising from private-public investments could reach up to 7% of Gross Domestic Product.

The government has not considered in its forecast that public debt would drop to 63% of GDP by 2021.

Currently, the government reflects debt only as a current arrear of the year, while international standards require the calculation of the part of the state’s obligation to the total public debt.

SCAN

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