World Bank calls on new Albanian govt to keep fiscal discipline, launch structural reforms

By bne IntelliNews July 12, 2013

The World Bank has called on the new Albanian government, which will enter in office in September, to maintain the fiscal discipline and to implement key structural reforms in order to support sustainable economic growth, Voice of America, reported, citing statement of the World Bank’s country manager, Kseniya Lvovsky.

The global lender believes that the government needs to make overdue payments to Albanian businesses, while fiscal consolidation warrants cautious approach as regard to public investments.

Albania is requested to establish a fiscal rule and to set up an independent Fiscal Council, with the purpose to monitor the fiscal policy. A programme for cooperation with the IMF will also be an useful tool. The Bank noted that the recent problems in the domestic energy sector showed the urgent need for structural reforms. The strengthening of the local governance will also be required.

Related Articles

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

Albania’s central bank to issue new high-denomination banknote

The Albania’s central bank has announced it will issue a new ALL10,000 (€74.9) banknote. The new ALL10,000 banknote will have the highest value issued so far, as the current biggest value ... more

Citizens to get "same information as MPs" as Albania launches new e-governance app

Albanian Prime Minister Edi Rama presented a new online platform for co-governance with citizens entitled “Albania We Want” on October 28. Ensuring functional and responsible ... more