IMF Staff Country Reports

Albania : 2018 First Post-Program Monitoring Discussions-Press Release and Staff Report

Author/Editor:

International Monetary Fund. European Dept.

Publication Date:

May 21, 2018

Electronic Access:

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

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, nonperforming loans in the financial sector, and weaknesses in public institutions and the judicial system.

Series:

Country Report No. 18/123

Subject:

Balance sheets Banking supervision Debt sustainability analysis Economic indicators Fiscal consolidation Fiscal reforms Inflation targeting Post-program monitoring Press releases Public-private sector cooperation Staff reports