Organic Budget Law Changes – Denaj: Economy received two shocks, primary balance will be negative in 2020

The two consecutive shocks that the Albanian economy received in a very short period of time, where the first was the November 26 earthquake and then the COVID-19 pandemic, caused deterioration of the main parameters of public finances, forcing the Ministry of Finance to intervene in Organic Budget Law, thus setting new fiscal rules.

The changes were made through a normative act submitted to the Assembly by the Minister of Finance Anila Denaj. The Act stipulates that starting from the budget year 2023 onwards the primary budget balance will be at least neutral or positive and should not be less than zero, except in cases of exceptional circumstances.

The November 26 Pandemic and Earthquake will significantly increase public debt, which by the end of this year is projected to reach 80% of Gross Domestic Product.

SCAN

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.