Draft Budget 2016 discussed at the Economy Commission

Tirana, November 25, 2015

The fiscal budget of 2016 will decrease the public debt and consolidate the public finances. This was declared by the Minister of Finances Shkelqim Cani on November 23nd, at the meeting of the Economy Commission. In turn, the opposition party MPs declared that this budget foresees a decrease of public investments and a symbolic increase of incomes. The former Minister of Finances Ridvan Bode declared that the draft budget is a proof of a possible fiscal discipline ruining and that the efforts of the majority to be optimistic in front of the public seem like a lost battle. However, Bode admitted that the budget is ‘down to earth’ due to the IMF interventions.

In turn, the Socialist Party MP Anastas Angjeli declared: “The annual budget of 2016 will be the budget of fiscal consolidation and in terms of investments the government will be focused on the harmonization of financing sources of the budget with the banking system and in increasing the foreign investments, which will be the key of success of investments.”

The Minister of Finances Shkelqim Cani declared that for the first time in years the annual budget is planned with primary surplus of about 0.3% of the GDP. The draft budget for 2016 foresees that Albania’s economy will increase by 3.4% in annual terms.

News source/photo credits: ATA