Standards & Poor published report for Albania

The prestigious agency says the economy has improved and Albania had a better fiscal growth than other countries of the same rating.

Standards & Poor’s explained that the B plus shows the progress achieved by reducing the debt, by accelerating the economy and strengthening institutions.

“The fiscal progress coincides with the acceleration of the economic growth and with the improved institutional framework in Albania”, the report says.

It adds that the government has implemented a series of institutional reforms during the past years, assisted by international partners, which gave Albania better economic growth than other countries of the same ranking.

“A successful implementation of these reforms will improve the business climate and Albania’s economic perspective”, S&P says.

The prestigious agency notes that the economic growth improved with 3.2% during the past year. For the 2017-2020 period it is expected to remain at 3.8%, led by increased consumption and investment, which will be made possible by the improved economy and fiscal consolidation policy. S&P also foresees that the debt will be reduced to 60% of the GDP during the next three years.

“Being an electoral year, 2017 might result with smaller tax collections, but this risk is much lower than in 2013”, S&P says.

The agency concludes that the rating may be improved if the economic growth will be higher than expected, but it may also be lowered if the government doesn’t stand to its fiscal commitments.

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