Sayed: Reforms remain the main criteria for the economic develpment

The head of World Bank delegation to Albania, Tahseen Sayed declared in a TV interview that the implementation of undertaken reforms by the government remain the criteria for the further development of the economy and economic growth.

She declared that “the public debt is the basis of the fiscal consolidation and must be in the focus of fiscal policies for this year and the next to follow. These fiscal policies would be successfully implemented if the government pays the obligations to businesses. The fiscal consolidation would increase budgetary revenues and would improve the economy, and consequently these measures in developing the private sector would increase employment and reduce poverty.”

Asked about the impact the massive flooding that occurred in country’s south, Sayed said that they will not have a direct influence in country’s economy. “Fortunately, flooding was not in an extraordinary degree. They will surely have a negative impact in the development of flooded areas but not in the economic development in general terms,” declared Sayed.

The main challenges the government will face during this year will be the economic revival in the macro economic framework which, according to her, is the basis of the fiscal policies and consolidation.

News source/photo credits: ATA