The Minister of Energy Damian Gjiknuri has reported on Monday at the Commission of Producing Activity about the debts of the energy sector inherited by the previous years and the actual situation of this sector, its revenues, expenditures and expectations in the upcoming months.
The Minister discussed with Commission’s members on the strategy of debt reduction, saying that this debt accumulated in years is estimated to be 1.1 billion ALL, $30 million of which are debts of hydroelectric plants. Gjiknuri stated that to come out of this situation there need to be taken several measures, focused on the financial recovery and the improvement of services for citizens.
According to Ministry’s predictions, the debts allocated from Hydropower plants are expected to be repaid within the first six months of this year, whereas the sector will exit from the crisis at the beginning of 2018. In 2018, added Gjiknuri, about 15% of Albanian citizens will be affected by the current measures and reforms we are implementing and we are going through a debt reconstruction process of all associations.
“The debt we have inherited in years is a huge financial gap and a full recovery requires long term measures. Starting from January 2018, we presume that this sector will emerge from crisis, since there is still much work to be done in reducing the energy loss and the renovation of the system in remote areas,” stated Gjiknuri.
News source/photo credits: Shqiptarja.com