Albania: Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under Extended Arrangement, and Financing Assurances Review: Staff Report; Staff Statement; Press Release on the Executive Board Discussion
Third Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under Extended Arrangement, and Financing Assurances Review: Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Albania
Volume/Issue:
Volume 2007
Issue 244
Publication date: July 2007
ISBN: 9781451800906
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , firm implementation plan , rate , Albtelecom dividend , Albtelecom , capital transfer , discussion of Albania , macroeconomic performance , Credit , Loans , budget neutral , electricity company
Summary
Albania’s Third Review Under the Three-Year Arrangement under the Poverty Reduction and Growth Facility is analyzed. Albania has reached a pivotal stage in its economic development. Increasing foreign direct investment and rapid financial sector development point to a faster convergence toward the emerging market income levels. The authorities will take revenue measures and use expenditure savings to fully cover the cost of stabilizing the state-owned electricity company’s financial position in 2007.These measures should ensure that priority expenditure is protected and budgetary safeguards remain adequate.
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