{
  "title": "Albania: 2018 First Post-Program Monitoring Discussions-Press Release and Staff Report",
  "publication": "IMF Staff Country Reports, May 21, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/05/21/albania-2018-first-post-program-monitoring-discussions-press-release-and-staff-report-45888",
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  "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.",
  "sections": [
    {
      "heading": "Economic performance and outlook",
      "content": "- Real GDP growth at 3.8 percent (year-over-year) during 2017.\n- Growth drivers identified:\n  - Strong domestic demand.\n  - Revival in construction.\n  - Recovery in the labor market and household credit.\n  - Large energy-related foreign direct investment projects.\n- Short-term outlook described as favorable."
    },
    {
      "heading": "Fiscal position and public debt",
      "content": "- Public-debt-to-GDP ratio declined (no other numeric value provided).\n- Pace of fiscal consolidation has slowed post-program.\n- Arrears have been accumulating."
    },
    {
      "heading": "Financial sector and other vulnerabilities",
      "content": "- Risks and vulnerabilities remain despite favorable environment, emanating from:\n  - High public debt.\n  - Non-performing loans in the financial sector.\n  - Weaknesses in public institutions and the judicial system."
    },
    {
      "heading": "Subject areas and keywords highlighted",
      "content": "- Subject: Arrears, Banking, Expenditure, External debt, Public debt, Public investment and public-private partnerships (PPP), Revenue administration.\n- 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."
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      "heading": "Publication metadata and access",
      "content": "- Publication date: May 21, 2018.\n- Pages: 50.\n- Volume: 2018.\n- Issue: 123.\n- Series: Country Report No. 2018/123.\n- DOI: https://doi.org/10.5089/9781484357071.002.\n- ISBN: 9781484357071.\n- ISSN: 1934-7685.\n\nInternational Monetary Fund. Albania: 2018 First Post-Program Monitoring Discussions-Press Release and Staff Report (IMF Staff Country Reports 2018, 123).\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 21, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484357071.002",
    "Real GDP growth at 3.8 percent (year-over-year) during 2017.",
    "Growth drivers identified:",
    "Short-term outlook described as favorable.",
    "Public-debt-to-GDP ratio declined (no other numeric value provided).",
    "Pace of fiscal consolidation has slowed post-program.",
    "Risks and vulnerabilities remain despite favorable environment, emanating from:",
    "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 date: May 21, 2018.",
    "Pages: 50.",
    "Volume: 2018.",
    "Issue: 123.",
    "Series: Country Report No. 2018/123.",
    "DOI: https://doi.org/10.5089/9781484357071.002.",
    "ISBN: 9781484357071.",
    "ISSN: 1934-7685.",
    "**Country Report**"
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