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World Bank: Albania has achieved fiscal consolidation

World Bank: Albania has achieved fiscal consolidation

 Albania has managed to consolidate the fiscal system, one of the most important indicators of the economy, which is the basis for income, investment and employment growth.

This fact is also appreciated in the recently published World Bank report on economies in Western Balkan countries, quoting that “the country that has achieved fiscal consolidation is Albania”.

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The fiscal consolidation policy, one of the main objectives of the government, is concretizing through the implementation of new fiscal policies, which basically has an impact on improving the business climate and establishing financial transparency in terms of revenue, expenditure and investments in the country’s economy.

The world’s most important banking institution, focusing on areas that can help boost productivity, quotes that “for a faster growth of the economy and employment, reforms should include competition policies, taxation of labor, growth of the impact of the division of taxation on personal income, the diversification of the fiscal sector, the improvement of exports and economic ties. “

“Conducting reforms in these areas will enable the country to capture the prospect of EU entry, and to be able to compete equally with EU countries,” the WB report said.

The report highlights the fact that investment in the development of early children will help improve performance in the field of knowledge, and empower students with the skills they need for employers.

News Source: ATA

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