BREAKING NEWS

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The organizing group of the arms business in Gërdec is about to sink, the
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BREAKING NEWS

Daut Gumeni: This is why the socialists and Gentiana Sula blocked the opening of Ilir Metaj's spy file, we expect that the "syringe with sea water" that the DASH senior official injected into SPAK prosecutors will lead to the arrest of "heavyweights"

Daut Gumeni: This is why the socialists and Gentiana Sula blocked the opening of
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BREAKING NEWS

The scandal erupts, the Parliament of Albania is accused of voting without a quorum on the Law on Strategic Investments, this is how the Constitution was overturned by the majority, the fraud is revealed

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BREAKING NEWS

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The dubious wealth of the "sheikh" of the Assembly Laert Duraj who
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BREAKING NEWS

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BREAKING NEWS

Rama-Berisha set up a commission to destroy SPAK and the Justice Reform, here are the new "non-women" deals with the prime minister to block arrests

Rama-Berisha set up a commission to destroy SPAK and the Justice Reform, here
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BREAKING NEWS

The Port of Vlora scandal broke, this is how Samir Manes was forgiven 57 thousand square meters of land, 2 ministers were implicated, SPAK takes over the lawsuit against the government mega-oligarch

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BREAKING NEWS

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The well-known journalist warns of sensational arrests in the coming days, here
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Ekonomia

IMF appeals to the Albanian government: Be careful with concessions, apply a more transparent tax system to absorb more foreign investments

IMF appeals to the Albanian government: Be careful with concessions, apply a

The International Monetary Fund predicts that economic growth will slow down to 2% in 2023, from 3.7% which is the estimate for 2022. The head of the IMF Mission for Albania, Yan Sun, says in an interview for "Monitor" that the growth the cost of living has begun to weigh on confidence and domestic demand, with inflation reaching two-decade highs in recent months, driven by food and energy prices. As a prerequisite for the long-term development of the country, the head of the IMF emphasizes the construction of a fairer, more efficient, simpler and more transparent tax system, which can make Albania more attractive for foreign investments, meanwhile that will strengthen domestic economic activity, including the right economic incentives and dealing with the high level of informality. “Construction has really been a big contributor to growth in the last couple of years. Given its growing contribution to economic activities and increased bank financing and foreign flows, the construction sector is becoming an important conduit for macro-financial linkages and could pose a risk to financial stability in the event of a rapid correction. of prices. We call for addressing significant data gaps in real estate and construction, as well as increased oversight of the sector's impact on financial stability. Going beyond specific sectors, which could be key potential drivers of long-term growth, the essential priority is to foster a business environment that is favorable for investment and more broadly for all economic activity. In this context, we would like to emphasize that the current tax system in Albania is complex and fragmented and the frequent "ad hoc" changes have damaged the stability and transparency of the system", she declared.

Minimizing the risks of PPPs

Meanwhile, when asked what the Albanian government should do to control and minimize PPP risks, she emphasized that the urgent priority for Albania is the alignment of PPP management frameworks and public investments, as well as their full integration into the cycle normal budget. "We remain concerned about the risks of PPPs, estimated at around 40% of GDP in 2022, based on the contract value of existing and ongoing projects. The framework for coordinating and managing PPPs continues to suffer from major weaknesses and it remains unclear how widespread the fiscal risks are. An urgent priority for Albania is the alignment of the PPP management frameworks and public investments, as well as their full integration into the normal budget cycle. The authorities should also strengthen the capacities of the Ministry of Finance and Economy to play an effective role in the selection of investment projects and to actively engage in evaluation and monitoring. All public investment projects must be subject to public investment and procurement frameworks. We welcome the commitment of the authorities to advance the implementation of the outstanding recommendations from the 2016 Public Investment Management Assessment (PIMA)," Ms. Yan Sun underlined.