{
  "title": "Albania: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Albania",
  "publication": "IMF Staff Country Reports, January 24, 2025",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2025/01/24/albania-2024-article-iv-consultation-press-release-staff-report-and-statement-by-the-561199",
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  "summary": "The 2024 Article IV Consultation discusses that the Albanian economy has turned in a strong performance in recent years, underpinned by prudent macroeconomic policies. Output is now well above its prepandemic trend thanks to a booming tourism sector.",
  "sections": [
    {
      "heading": "Recent economic performance",
      "content": "- The Albanian economy has turned in a strong performance in recent years, underpinned by prudent macroeconomic policies.\n- Output is now well above its prepandemic trend thanks to a booming tourism sector.\n- External imbalances have shrunk considerably."
    },
    {
      "heading": "Macroeconomic stability and disinflation",
      "content": "- Prudent fiscal policies contributed to a remarkable reduction in public debt.\n- Proactive monetary policy, falling global commodity prices, and lek appreciation have facilitated disinflation.\n- The hard-earned gains on macroeconomic stability should be safeguarded."
    },
    {
      "heading": "Financial sector soundness",
      "content": "- Systemic vulnerabilities in the financial system appear broadly contained.\n- The banking sector remains well-capitalized and liquid with average prudential ratios well above regulatory requirements."
    },
    {
      "heading": "Structural challenges and reform priorities",
      "content": "- Deep structural reforms are needed to accelerate convergence.\n- The groundwork for the introduction of a new property tax law—including the establishment of a fiscal cadaster—should be completed in a timely manner.\n- Policies should focus on raising productivity by:\n  - fostering integration in global value chains,\n  - removing barriers to firm growth such as distortionary tax incentives and hurdles to bank lending,\n  - promoting technology adoption,\n  - improving education and training.\n\nSource: Albania: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Albania (January 24, 2025).\n\n---\n\n Content in this bundle\n\n- 1albea2025001-print-pdf\n  - 1albea2025001-print-pdf (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1albea2025001-print-pdf (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: January 24, 2025",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400298936.002",
    "The Albanian economy has turned in a strong performance in recent years, underpinned by prudent macroeconomic policies.",
    "Output is now well above its prepandemic trend thanks to a booming tourism sector.",
    "External imbalances have shrunk considerably.",
    "Prudent fiscal policies contributed to a remarkable reduction in public debt.",
    "Proactive monetary policy, falling global commodity prices, and lek appreciation have facilitated disinflation.",
    "The hard-earned gains on macroeconomic stability should be safeguarded.",
    "Systemic vulnerabilities in the financial system appear broadly contained.",
    "The banking sector remains well-capitalized and liquid with average prudential ratios well above regulatory requirements.",
    "Deep structural reforms are needed to accelerate convergence.",
    "The groundwork for the introduction of a new property tax law—including the establishment of a fiscal cadaster—should be completed in a timely manner.",
    "Policies should focus on raising productivity by:",
    "**1albea2025001-print-pdf**"
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