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Albania needs to reduce public debt, economists say

Xinhua, February 16, 2016 Adjust font size:

Economists expect the Albanian economy to face many challenges in the coming years, including fiscal consolidation and public debt reduction, the Albanian Daily News reported Tuesday.

These are the primary obstacles to economic progress in the country, experts from the International Monetary Fund and Albania said in a report that makes recommendations for economic reforms in the country.

The government should address these two challenges over the next two years, they said.

The report recommends reducing the public debt to 66 percent of the gross domestic product by 2017 from the current level of 72.6 percent, and further to below 64 percent by 2018.

It also highlights the importance of maintaining proper fiscal space and supporting public investments while ensuring revenue performance remains on track. The government is also advised to implement budgeted capital expenditure.

Finally, the economists urged the government to continue working to address the fiscal risks presented by the energy sector and recommended further measures to reduce problematic loans. Endi