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.
Officials from oil distribution company Gulf Albania are under investigation for money laundering, media in Tirana reported on April 22. The owner of the group is Alexandre Gogokhia, a ... more
Albanian Defense Minister Olta Xhacka said that Tirana wants more investments by the US military industry in Albania, after a US company launched work on the installation of the Integrated ... more
Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more