Albania : Staff Report for the 2016 Article IV Consultation, Seventh Review Under the Extended Arrangement, and Request for Waiver of Applicability and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Albania

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

June 9, 2016

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper presents an overview of recent economic developments, outlook, and risks of the Albanian economy. Over the past few years, Albania has successfully maintained macroeconomic stability amid a turbulent external environment. A sizable fiscal consolidation is underway, and public debt is projected to start decreasing in 2016. However, growth remains sluggish due to a weak euro area recovery and risk-averse banks. The policy mix focuses on fiscal adjustment, while supporting growth through gradual monetary easing. The key policy priorities are to lower fiscal vulnerabilities through continued consolidation, revive private sector credit by cleaning up bank balance sheets, and continue implementing growth-friendly structural reforms.

Series:

Country Report No. 16/142

Subject:

English

Publication Date:

June 9, 2016

ISBN/ISSN:

9781475519426/1934-7685

Stock No:

1ALBEA2016003

Format:

Paper

Pages:

120

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