TIRANA, November 13/ATA/- Albania’s Minister of Finances and Economy Anila Denaj said Albania’s economic growth has followed a steady upward trajectory since 2013, surpassing the region’s average in the last three years. Albania’s unemployment rate also remains below the region’s average.
Minister Denaj presented to the Parliamentary Committee on Economy and Finance the draft/budget 2020, where she emphasized that through the 2020 draft budget we support fiscal consolidation, strong public finances, financial stability and stability of Albania’s external position.
According to her, this budget aims to achieve economic growth, which is projected to be at 4.1% in 2020, a growth driven mainly by domestic demand, both consumption and investment.
Even from the regional perspective, Minister Denaj said it turns out that Albania’s economic growth has followed a steady upward trajectory since 2013, surpassing the region’s average in the last three years. “Likewise, Albania’s unemployment rate continues to be below the region’s average,” Denaj said.
According to her, this project of growth for 2020 will render into more employment, namely the creation of about 35,000 new jobs, a further reduction in the unemployment rate below 11%, and the provision of a high level of public investment of more than 4.5% of GDP, in support of economic growth and employment.
Minister Denaj also emphasized that the budget aims to maintain a positive primary balance. “This balance will be positive for the fifth year in a row at 0.7% aiming to keep debt on a downward trajectory. By the end of 2020, public debt is expected to drop to 62.2% of GDP, down to 60% of GDP in 2021 and then to around 57% in 2022”, said Minister Denaj.
Another objective of the Ministry of Finances and Economy for the coming year is to keep the budget deficit below 2%. According to Denaj, during 2020 it is projected to be at the level of 1.6% of GDP, the lowest target level in the last two decades./a.gjonaj/p.s./
