TIRANA, May 20 /ATA/ The stock of liabilities for settlement of arrears for goods and services dropped to ALL 20.7 billion at the end of March, compared to the end of last year.
According to data made public by the Ministry of Finance and Economy, arrears decreased by about ALL 3.1 billion at the end of March this year.
This indicator improved as a result of a higher level of VAT refund for business. At the end of March, VAT refund liabilities decreased by almost ALL 4 billion, going down from ALL 9.7 billion at the end of 2020 to ALL 5.9 billion.
Referring to the data, the overall liabilities of the central government are estimated at the end of March at ALL 7.9 billion from 6.9 billion at the end of 2020. The liabilities for court decisions and those for investments have increased.
While local government liabilities decreased, from 7 billion ALL at the end of 2020 to 6.8 billion ALL at the end of March this year.
The Ministry of Finance and Economy reviewed in July last year the public financial management strategy for the period 2019-2022, which aims to reduce public debt, repay and prevent arrears, as well as sustain the mobilization for the collection of tax and customs revenues.
