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Albania fails to meet spending targets in first eight months

Xinhua, September 23, 2016 Adjust font size:

Albanian economy lacked about 3.2 billion leks (about 26 million U.S dollars) during the first eight months of the year as its capital spending plan wasn't realized, data published by the Albanian finance ministry showed Friday.

This amount of money should have been used for the construction of new roads, hospitals, schools, among others, but none of these happened.

Fiscal data of the Albanian finance ministry for the January-August period showed that the capital expenditures for this period were 28.8 billion leks (234 million U.S. dollar) down from 32 billion leks from the original plan for the year, or about 10 percent lower.

The failure to reach capital expenditures is generally due to delays in the disbursement of funds, ministry data showed.

In terms of investments for 2016, sources from this ministry said that 21 billion leks were planned for construction and reconstruction of roads, 5 billion leks were for investments in energy, and 10.5 billion leks for the Regional Development Fund.

On the other hand, economists see such a decline in two aspects. On one side they say that the government is being prudent with the use of funds, but on the other side they see fewer services for citizens. Endi