World Bank: Debt reduced by tax reform, pensions and energy

The World Bank predicts that Albania’s public debt will reach 76 % of GDP in 2018 and according to a baseline scenario.

The World Bank experts said today in Tirana that the only way to achieve a sustainable reduction in the debt trajectory would be through a tax reform, pension and energy system. The World Bank Regional Director, Ellen Goldstein, praised the package prepared by the government and hopes it will bring the necessary fiscal discipline that has been lacking in recent years in the medium-term program for the settlement of arrears and an investment focus on priority projects. Mrs.

Goldstein said that the World Bank could assist the Government with a loan in the range between 100 and 200 million USD. The World Bank report to economic developments in Southeast Europe, published today, lowered the forecast for economic growth in Albania during the year to 1.3%. Albania is expected to be the country with the second highest growth in the lower region, and starting next year the growth rate is expected to improve by 2.1%.

Scan TV, 10.12.2013