The effects of fiscal policy, Ahmetaj: Our initiatives in support of economic growth

Fiscal policies have been put at the center of global economic meetings and analysis.

In this context, Finance Minister Arben Ahmetaj and the Governor of the Bank of Albania, Gent Sejko attended the meeting of the International Monetary Fund Constituency and World Bank held in Rome, with the participation of member countries such as Italy, Albania, Greece, Malta Portugal and San Marino.

The main topic of the meeting organized by the Italian Minister of Economy, Patrizio Pagano was “fiscal policies in support of economic growth”, where they discussed the developments of the global economy, their impact on economies and measures that each country has taken in support of the economic growth and fiscal consolidation, taking into account the different budget constraints.

Minister Ahmetaj focused his speech on the measures that Albania has undertaken in the last three years, to overcome the difficult economic situation inherited from 2013, where the main problem was the accumulation of a large extent of arrears and the high public debt that were a serious threat for the economy.

He mentioned the main achievements of the three-year program of the Albanian government with the International Monetary Fund, a program that was successful and achieved its main objectives.

“Fiscal policies are cyclical and anti-cyclical and depend on the context in which they apply, not always reached the line between fiscal policy and economic growth. So there is a lack of consistency in the time taken between fiscal policy and economic growth. We tried to focus and implement those fiscal policies that do not harm growth, by combining our fiscal space expenditures that promote economic growth,” said Ahmetaj.

In this context, the Minister also highlighted the reforms undertaken in main sectors of the economy and their positive impact, reflected in the figures of economic growth, employment, confidence in the economy and projections of the Albanian government.

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