Fiscal Objective in the Post IMF Program World: The Case of Albania

March 1, 2010

Preview Citation

Format: Chicago

Jiri Jonas. Fiscal Objective in the Post IMF Program World: The Case of Albania, (USA: International Monetary Fund, 2010) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The paper discusses the challenges facing Albania's fiscal policy following the graduation from the IMF programs. It argues that Albania's public debt remains too high and needs to be reduced. Strengthening the fiscal framework, including by introducing a numerical fiscal rule, could help achieve this objective. The paper discusses two alternative rules, with the objective of achieving a gradual decline in the public debt ratio. One rule would limit nominal expenditure growth, with a correction mechanism to guard against revenue slippages and other shocks. An alternative rule would limit the growth in nominal public debt.

Subject: Expenditure, Fiscal policy, Fiscal rules, Fiscal stance, Public debt

Keywords: Expenditure rule, Foreign currency, WP

Publication Details

Pages:

29
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2010/077
Stock No:

WPIEA2010077
ISBN:

9781451982206
ISSN:

1018-5941

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