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

International Monetary Fund

No 2018/123, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; GDP; debt; rate; VAT refund process; project appraisal; IMF staff estimate; arrears accumulation; unbudgeted investment project; NPL ratio; growth prospect; broad money; boa repo rate; Arrears; Public investment and public-private partnerships (PPP) (search for similar items in EconPapers)
Pages: 50
Date: 2018-05-21
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