Debt, government breakes promises
23/07/2011 15:10
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The Albanian government changed once again the limit of the debt that will be taken until 2013. The many changes were made only
within a short period of time, and always by
raising it.
With the new fiscal plan that was passed three days ago, the government gave itself the right to increase the 2013 debt to 58.6% of the national GDP, from 58.1% that was passed only several months ago. This is the third time that the debt limit increases since the beginning of the year.
After the crisis of 2009, when the debt increased to 60%, the government vowed in front of the Albanian public and IMF that it would gradually decrease it to 54% until 2013. The promise was broken for the first time in February 2nd, when the Strategy and Planning Committee, directed by the Prime Minister, approved the new plan that increased the debt for 2013 to 58.1% of the national GDP.
Three days earlier, this program was changed again and the limit of the sovereign debt, the one that is taken on the behalf of the citizens and that is paid with their taxes, will increase again with 0.5%.
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