Albania to have new IMF program following upcoming 2017 elections: Minister of Finance
At the conclusion of the 3-year program with the International Monetary Fund for fiscal consolidation, Albanian Finance Minister Arben Ahmetaj confirmed the good performance of the relationship that the government has with the international financial institution.
Ahmetaj said that a new relationship with IMF has been approved, emphasizing that the new program will be signed following the upcoming elections.
The IMF is currently playing a monitoring role in the progress of implementation of recommendations.
While speaking at a press conference, Ahmetaj said that the success achieved with the fiscal consolidation program and the implementation of the reforms has made possible an increase of salaries and pensions in Albania.
Furthermore, he highlighted the improvement of the business climate in the country and the rise of Albanian exports.
Regarding 2017, the finance minister reaffirmed that public debt will decline, while also emphasizing that the government will go on with its fiscal consolidation plan and the implementation of the budget law.
Highlighting the impact of political tensions in the country’s economy, Ahmetaj said that one of the challenges is well-administration of investments and their good planning.
A few days ago, the International Monetary Fund Board concluded the final review of the country’s program, which translates into 73.2 million euro disbursement from the Albanian government, bringing the loan with the institution at the level of 377.3 million euros.
The three-year agreement with the International Monetary Fund has now officially ended.
The institution has also made a balance of the Albanian economy, at least in terms of sectors where there was an agreement with the government.
In general terms, the institution speaks with superlatives for the Albanian economy, but notes that, without the continuation of the reform agenda, the progress will prove futile.
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