The draft budget for 2016 will be presented to the public in October 2015, announced the Minister of Finances, Shkelqim Cani. The announcement was made after signing an agreement with the Swiss Ambassador to Albania for a project funded by the Swiss government which aims to improve the mechanisms of debt management in Albania.
The Minister declared that the new draft budget will be consulted with the representatives of the International Monetary Fund for Albania which will be present in Tirana in October of this year. “The IMF representatives will be in Tirana in the second half of October and we will consult with IMF officials as a sign of understanding,” declared the Minister. Cani will also be present in the annual meeting of the IMF in October.
After consulting with the groups of interests and international organizations, the draft budget will be approved by the government by the end of October. The next phase will be the scrutinizing of the draft budget by parliamentary commissions in the parliament during November. In the beginning of December, the Parliament will hold a special plenary session for the final approval of the next year’s budget. The new budget will enter in force on January 1st of 2016.
News source/photo credits: ATA