Budget passed in principle. Bank of Albania: “No new investments without money”

The Bank of Albania has given its opinion for the first time referring the budget of the next year.

Although the Central Bank experts support the draft in principle, they have reserves about the plan of revenues, which they considered as very optimistic. For this reason they asked the government to increase the reserve fund and be careful when realizing investments.

“This concern has been addressed through the planning of contingent funds, which, in our opinion, could have been higher for a possible development, for a lower realization of the revenues based on the plan. Another reasonable alternative is the one related to a careful implementation of the capital spending during the year, so that they could follow the progress of the realization of public revenues”, said Erald Themeli, Director of the Monetary Policy of the Bank of Albania.

Besides the budget, the experts of the Central Bank also commented on the economic developments.

“With these parameters of the macro-economic policies, the Albanian economy will close the two gaps within three years. The economy must converge in a potential. The unemployment will drop to the natural level and inflation will turn to the goal of 3%”, Themeli declared.

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