The “positive” perspective reflects the possibility of a better fiscal scenario than expected, which could result in a sustainable improvement of Albania’s fiscal strength.

The agency stated that Albania maintained macroeconomic stability through three consecutive shocks in recent times, including the 2019 earthquake, the COVID-19 pandemic and the 2022 energy crisis.

Further on, Moody expects the debt-to-GDP ratio to decrease to 56.3% in 2024 from 59.2% in 2023.

Moody expects the authorities to comply with the fiscal rules set out in the Organic Budget Law, which include a primary balance not lower than zero and a reduction of the public debt-to-GDP ratio every year until it reaches 45% of GDP- of.

The agency is of the opinion that the decline in debt is expected to be driven by ongoing fiscal reforms, including the medium-term revenue strategy and improvements in public investment management. The positive impact of these reforms may exceed the agency’s current expectations.

The agency is of the opinion that steady flows of foreign direct investment in tourism and energy, improvements in productivity, as well as increased labor force participation support a positive medium-term economic outlook. The agency forecasts a real GDP growth of 3.5% in 2024.

According to the agency’s evaluations, the banking system remains strong and highly liquid.

The agency is of the opinion that Albania’s credit profile will also benefit from the gradual implementation of further reforms related to the EU accession process.

The pace of reforms is likely to strengthen as EU accession talks progress. Further economic integration with the EU, Albania’s largest trading partner, is likely to improve the growth potential of its economy in the medium term and eventually further narrow the gap in income levels with EU member states.

The Reform and Growth Plan for the Western Balkans, which was approved by the European Commission in November 2023, with support from EU pre-accession funds and investments under the Western Balkans Investment Framework (WBIF), will support implementation of further institutional reforms in Albania and the convergence of income per inhabitant with the levels of EU countries, predicts Moody’s./p.s./

Head of the Albanian football government expressed his satisfaction that the season is normally coming to an end, despite the pandemic.

“We are at the end of all competitions and in this difficult year we must call it a success, as football is the only sport that closes all activities regularly according to all calendars and for all age groups, for men and women,” said the President of FSHF.

“However, football without spectators is not complete,” said Duka.

Duka added that regarding the Albanian clubs in the European cups, “We should be satisfied if any Albanian club reaches the level that “Skanderbeg” was, qualifying to the groups of the Europa League or even those of the Conference League”.

Regarding holding of the final of the Conference League in Albania, Duka stressed that, “The final is a very important and historic event, especially since it is the first time of this competition and will certainly remain in history that this match took place in Tirana and will be remembered for a long time “.

“We have started a project to build 100 playgrounds these 3 years in Albania and we think that these 100 fields will make an important qualitative step to claim and reach the groups of the Champions League, the finals of a European Championship or other major tournaments “, he said./jp/p.s./