IMF representative: The reform in the energy sector is very important

The new resident representative of the International Monetary Fund in Tirana, Jens Reinke, during an interview for the Monitor Magazine, said that the reform in pensions and the energy sector are the two most critical issues of the Albanian economy. But, in his opinion, these reforms will be implemented in different periods of time, since the reform of pensions has passed on the parliament.

“We do not expect an immediate fiscal improvement from the implementation of these reforms in a short time”, has declared Mr. Reinke. He also added that the reform in the energy sector is in its initial steps and that the needs of this sector for direct and indirect public subventions must be reduced gradually in a midterm.

The revenues from the selling of the electricity in a midterm and the solving of theft of electricity are important measured to be taken in the upcoming months. According to the IMF representative, the Albanian government is discussing in relation to the appropriate measures to be taken in this sector and its taking advices by international partners. Asked for the performance of the country’s economy in 2014, he replied it’s  still early to give a definitive opinion, but he is optimistic for a revival of the economy.

 “The amount of exports has increased as well as foreing direct investments and this is a positive sign for the economy. The economic indicators shows that the tendency of the economic agents have improved. Current developments are in line with our forecast for economic growth around 2% in 2014”, ended the IMF representative, Jens Reinke.

News source: Monitor