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

May 21, 2018

Preview Citation

Format: Chicago

Albania: 2018 First Post-Program Monitoring Discussions-Press Release and Staff Report, (USA: International Monetary Fund, 2018) accessed November 8, 2024

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.

Subject: Arrears, Banking, Expenditure, External debt, Public debt, Public investment and public-private partnerships (PPP), Revenue administration

Keywords: Arrears, Arrears accumulation, Boa repo rate, Broad money, CR, Debt, GDP, Growth prospect, IMF staff estimate, ISCR, NPL ratio, Project appraisal, Public investment and public-private partnerships (PPP), Rate, Unbudgeted investment project, VAT refund process

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/123
Stock No:

1ALBEA2018001
ISBN:

9781484357071
ISSN:

1934-7685

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