Albania: 2018 First Post-Program Monitoring Discussions-Press Release and Staff Report
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Summary:
This paper discusses First Post-Program Monitoring Discussions in 2018 with Albania. The Albanian economy has continued to strengthen, with real GDP growth at 3.8 percent (year-over-year) during 2017, reflecting strong domestic demand driven by a revival in construction, recovery in the labor market and household credit, and large energy-related foreign direct investment projects. Although the public-debt-to-GDP ratio declined, the pace of fiscal consolidation has slowed post-program, with arrears accumulating. Despite the favorable environment and positive short-term outlook, risks and vulnerabilities remain, emanating from high public debt, non-performing loans in the financial sector, and weaknesses in public institutions and the judicial system.
Series:
Country Report No. 2018/123
Subject:
Arrears Banking Expenditure External debt Public debt Public investment and public-private partnerships (PPP) Revenue administration
English
Publication Date:
May 21, 2018
ISBN/ISSN:
9781484357071/1934-7685
Stock No:
1ALBEA2018001
Pages:
50
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