The Minister of Finances, Shkelqim Cani, was present this Tuesday in a
joint conference with the International Monetary Fund and the World
Bank.
Cani declared that the economic growth for 2013 was around 1.3%. Next year it might go at 2%, which is still far from our desires.
According to the Minister, “the improvement of the business climate will be the basis for the economic growth. In a mid-term period, it will be important to not create other debts. The government is committed to pay some of the debts that the government owes to businesses. These bills mount up to 350 million USD. Together with the International Monetary Fund we are making a policy of economic growth, and we are working to reduce the national debt”
Cani made it clear that his favorite way for improving the state’s finances is the “growth of the taxable base. The second solution is austerity, and that’s painful”.
The Minister of Finances spoke about a series of measures, based on the measure for increasing the tax increase and reducing corruption. “The administering of customs by Crown Agent increase the efficiency and reduces corruption. We will make frequent controls to reduce the abuses with VAT, while the International Monetary Fund will help us inserting a new tax system”.
With the status, the Bank of Albania governor, Ardian Fullani, presented some of the biggest challenges that our economy is facing, and proved that the talks with the International Monetary Fund were successful.
“The agreement with the International Monetary Fund offers financial guarantee with a low cost for the country. It reinforces the trust of investors, having positive effects in increasing trust. The financial support of the International Monetary Fund and the World Bank reduces loans in the internal market and avoids the shrinking of the high interests, which Albania would have to face in other financial markets”, Fullani declared.
The governor also added that “the banking system in Albania is healthy and able to face hits. Bank of Albania is organized to improve the supervisory infrastructure and guarantee a healthier and more lucrative banking system”.
The representative of the International Monetary Fund confirmed the agreement reached with the Albanian government.
“We have reached an agreement for a three-year-long plan. Our assistance will help deciding where the next reforms for economic development will be based. The assistance will help with the economic recovery. Our focus will be the economic growth and the reducing of debt”.
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