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Albania's economy to increase 3.4 pct in 2016: finance minister

Xinhua, April 21, 2016 Adjust font size:

Albanian Finance Minister Arben Ahmetaj said on Wednesday that the country's economic growth in 2016 will be up to 3.4 percent.

"The growth for 2015 stopped at 2.62 percent while the projections for this year will rise to 3.4 percent," Ahmetaj said during a meeting with members of the Parliamentary Committee of Economy and Finance and representatives of the media.

He added that the economic growth is estimated at 0.5 percent higher than the regional average, and that foreign and domestic investments are the main drive of economic growth.

The minister said that to increase efficiency remains the challenge of public finance.

He listed some examples of reforms undertaken by the ruling majority, such as in the areas of pensions, macro-fiscal policy, energy and justice, because these factors have a great impact on the country's economic stability, saying the reforms will bring the economy to a different era in all dimensions.

"The reforms in the past two years have incurred political costs, but they were necessary and their results will be felt in the coming years," he added. Endi