Management of public finances in line with best international standards is key for Albania’s EU accession and for its access to EU funding. That is why we were glad to witness the presentation of the new Public Expenditure and Financial Accountability Assessment (PEFA) report in Tirana this week. The report shows progress in the budget process, public investment procedures and internal audit. Improvements in consolidated financial reporting, including on State-owned enterprises and public asset management, are among outstanding challenges, the EU Delegation office says.

It adds that PEFA report insights and recommendations should be taken on board as the government continues to implement reforms in this area.

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