TIRANA, Sept 20 /ATA/ Economic growth in Albania is expected to be on average 4% per year, generating more jobs and sustaining incremental wage raise in the country,
The priority sectors that boost the development of economy are tourism, agriculture, processing industry, energy and transport.
At the same time, the government is planning a rapid fiscal consolidation with the aim of reducing the level of public debt to 60% from nearly 80% it is now.
“We will carry on with fiscal consolidation without compromising strategic investments in priority areas of the program. At the end of this term, we aim to reduce the level of debt to 60%, also reducing its interest rate, ” Minister of Finance and Economy, Delina Ibrahimaj, said at the presentation of the government program for the next 4 years.
The Minister said that public debt increased during 2020, mainly due to the pandemics.
“It has increased in all countries of the region and the eurozone. In the eurozone countries, public debt is about 15 percentage points higher than before the pandemic.
According to her, during 8 years under this majority, revenue in tax collections increased by 42%.
“They are planned to be 157 billion ALL higher at the end of this year, compared to 2013. Budget revenues increased despite the reduction of taxes for 91% of businesses thanks to proper fiscal policies and good fiscal governance,” said Ibrahimaj.
The Minister stressed that the progressive tax will continue to be in place, believing in the philosophy that high earners should pay more in taxes.
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