Bode: We will pay more for KESH

24/11/2011 21:50

The Ministry of Finances, Ridvan Bode, declared on Top Channel’s program
“Top Story” that the government is asking the Parliament’s
authorization for increasing the public debt beyond the 60% level, due
to the energetic crisis.

Sokol Balla: Albania is the country of extremes. We had the last two winters with heavy rains and floods, and Drini River’s cascade filled with water to the point that it poured out. And this year, the water level in this cascade is falling to alarming levels and is bringing the need to buy energy. Where will KESH find this money?”

Minister Bode: We are importing today two or three times more than what we were importing in 2007, which was the year of the energy crisis.

To the question if there is any danger for the budget to deteriorate, Bode said that not only there are risks, but these risks have increased.

How quickly can this danger be present?

“We’re currently facing it. We are buying energy”, Bode declared.

To the question if the budget has a fund for buying energy, Bode declared:

“The state must guarantee the loan for the Energy Corporation, which means that the 60% debt should not be a taboo”.

Journalists: It will be reviewed. It will increase.

Bode: It is temporary.

But the energy crisis is not the only danger that our economy and budget faces. What is happening in the Euro Zone is another source of big dangers.

“Our banking system is a strong and liquid system that offers full security for the depositor, but is offering less development opportunities to the economy. The banking system has reduced the contribution in the economic growth for the last two years. This is the risk that we calculate for 2012. The added risk means a further decline of the banking system crediting, which derives from the fact that our banks are foreign banks, with foreign capital. Same as it has played a positive role when these banks were created, when these capitals were bought, other capitals have come for encouraging development and today they play a role for stopping the economic growth”, Bode declared.

Mr. Bode added that the government will not increase taxes for business or individuals, but admits that some of the big roads have been built, and soon will have paying tolls for the citizens.

Top Channel