Albania: Second Post-Program Monitoring Discussions-Press Release; and Staff Report

July 3, 2019

Preview Citation

Format: Chicago

Albania: Second Post-Program Monitoring Discussions-Press Release; and Staff Report, (USA: International Monetary Fund, 2019) accessed November 15, 2024

Summary

Growth was strong in 2018, backed by high electricity production. Inflation remains subdued, notwithstanding very accommodative monetary conditions. The fiscal stance in 2018 was somewhat tighter than expected, supporting a further decline in public debt. The medium-term economic outlook is broadly favorable, with growth projected to converge to 4 percent and a further narrowing of the current account deficit. However, significant risks remain. Growth is vulnerable to a continued or sharper economic slowdown in the main trading partners. The main vulnerabilities remain in the fiscal sector, as public debt is still high, and contingent liabilities are increasing. Albania’s relatively large financing needs also pose risks that could materialize, in particular, in case of tightening external financing conditions.

Subject: Arrears, Banking, External debt, Fiscal policy, Fiscal stance, Public debt, Revenue administration, Value-added tax

Keywords: Albania, Albania's infrastructure, Arrears, Baseline projection, Broad money, Central Asia, CR, Debt, Deficit, EU growth, Europe, Fiscal stance, Global, Growth vulnerability, IMF staff estimate, ISCR

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/207
Stock No:

1ALBEA2019003
ISBN:

9781498324069
ISSN:

1934-7685

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