WB: “Caution with 1 Billion EUR Project”
16/11/2017 17:00
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The World Bank declared that Albania’s GDP will grow with 3.8%, thanks to the positive progress of investments, but warned that the economic growth is going to drop in the next years.
“The economic growth for the next years is going to drop due to the completion of two big projects of foreign investments”, declared Hilda Shijaku, Chief Economist of the World Bank for Albania.
The government hopes that the foreign investment drop will be replaced by the 1 Billion EUR projects of PPP and concession contracts, but the government asks them to be cautious.
“Not every investment can be made through concession. Some should be strictly government investments, some private. Everything should be seen in the context of a national strategy. The government must see what project is more profitable and should think about many factors when they approve a PPP contract, such as transparency and accountability. This will bring consequences to the debt. It is important for the debt and for that investment to bring profits”, declared Maryam Salim, WB Director for Albania.
The World Bank values the government’s debt drop, although in an electoral year, but they criticized its policy to exclude luxury hotels from taxes.
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