Post by dunki31 on Mar 3, 2024 15:24:01 GMT 8
Following closely the latest statement of the International Monetary Fund (IMF) Mission for Post-Program Monitoring, special focus is placed on Albania's weak points and lack of repayment capacity. Among other things, the IMF emphasizes the main risks that come from the deficit and increased public debt, weaknesses in public finances and from a relatively high level of problem loans. While Albania was hit by the earthquake at the end of 2019 and then by the pandemic at the beginning of 2020, the crisis in the Albanian economy is several years old and cannot be attributed only to natural disasters and external causes, as the government is trying to justify today. This is related to the total lack of responsibility in the management of public finances.
The fiscal deficit is expected to Cambodia WhatsApp Number Data increase to 7% of GDP and the public debt to over 80% of GDP by the end of 2020. The situation becomes even more serious when the state coffers lack about 500 million USD, not counting the obligations of arrears to businesses from the VAT refund that the socialist government has accumulated during the 7 years of its government. Read also: "BMW X5" burns during the night in Vlora, the first details Tragic in Serbia - The couple kills the two children, then jump from the 17th floor of the building The deficit in income cannot be attributed only to natural calamities or the pandemic, but also to mismanagement. With this rate of non-realization of revenue collection, the fiscal deficit will worsen and therefore the Ministry of Finance will have to face the increasing pressure of spending that the Government requires until December 2020.
This will require additional funding from lack of management and non-realization of the tax administration will be forced to further increase the level of debt. The Minister of Finance and Prime Minister Rama will end their mandate with the historical level of debt at 85%, or about 4,500 euros/every Albanian. The balance becomes even heavier when we consider that tens of thousands of Albanians leave the country every year, in conditions where they cannot find space to ensure a modest future in their country. For the first time this year, the government will present the proposal for the 2021 budget project without accompanying it with a fiscal package, an expression of the lack of ideas in decision-making.
The fiscal deficit is expected to Cambodia WhatsApp Number Data increase to 7% of GDP and the public debt to over 80% of GDP by the end of 2020. The situation becomes even more serious when the state coffers lack about 500 million USD, not counting the obligations of arrears to businesses from the VAT refund that the socialist government has accumulated during the 7 years of its government. Read also: "BMW X5" burns during the night in Vlora, the first details Tragic in Serbia - The couple kills the two children, then jump from the 17th floor of the building The deficit in income cannot be attributed only to natural calamities or the pandemic, but also to mismanagement. With this rate of non-realization of revenue collection, the fiscal deficit will worsen and therefore the Ministry of Finance will have to face the increasing pressure of spending that the Government requires until December 2020.
This will require additional funding from lack of management and non-realization of the tax administration will be forced to further increase the level of debt. The Minister of Finance and Prime Minister Rama will end their mandate with the historical level of debt at 85%, or about 4,500 euros/every Albanian. The balance becomes even heavier when we consider that tens of thousands of Albanians leave the country every year, in conditions where they cannot find space to ensure a modest future in their country. For the first time this year, the government will present the proposal for the 2021 budget project without accompanying it with a fiscal package, an expression of the lack of ideas in decision-making.