European Commission: “Albania had good economic progress”

“Although the external environment was challenging, the real growth of the GDP was 2.8% during the last year, and it accelerated even more during the first trimester of 2016.

But the Commission asked the government to continue the policy for reducing the debt, in order to reduce risks for public finances and for the national economy.

After 2011, the public debt has increased and crossed the 70% level of GDP. This remains higher than in other countries, although the debt is expected to decrease during this year.

According to the commission, and also thanks to the International Monetary Fund, Albania has undertaken a series of measures to improve the fiscal governing and to reduce the dangers in economy.

“A fiscal rule was passed in June 2014, which bounds the government to reduce the debt year after year, until it is 45% of the GDP”.

Another source of danger, besides the debt, remains the high level of bad loans.

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