World Bank sees no room for further tax cuts in Albania.

By bne IntelliNews February 25, 2013
There is no room for further tax cuts in Albania because the current level of taxation is considered to be low, local TV Klan reported, citing a statement of the World Bank's country director for the Western Balkans, Ellen Goldstein. The World Bank believes that pledges for lower taxation made by Albanian political parties ahead of the June 2013 parliamentary elections would jeopardise fiscal consolidation. In this regard the bank has repeatedly called for reduction of Albanian public debt, which already exceeded the 60% threshold. It is essential for the government to settle its debts towards private companies, which will send positive signals for investors. In a meeting with Albanian PM Sali Berisha, Goldstein expressed the World Banks readiness to continue financial support for the country. The international institution is currently negotiating financial agreements with Albanian authorities in order to fund development of energy and financial sectors.

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