Tahseen Sayed, the country representative of the World Bank in Albania has declared during an interview given for Monitor Magazine that Albania will have positive economic developments and benefits during 2015.
Sayed said that “during the latest months of the past year, the economic growth showed a positive performance as a result of the increase of lending, and the repayment of outstanding debts to businesses. This led to the improvement of business climate and businesses’ confidence to government.” World Bank representative to Albania said that FDIs have also increased during 2014.
Speaking about the expected economic growth in Albania, Sayed said: “World Bank expectes that the economic growth in Albania to be about 3%, if Trans Adriatic Pipeline will bring more foreign investments and new investment projects in the energy.”
She added that fiscal consolidation is a key element in strengthening the macro-fiscal policy in Albania and in opening a new page of the long term economic growth, which will be supported by continuous reforms for the business climate improvement. The payment of outstanding debts to business has helped a lot in the improvement of business climate, stressed Sayed.
Sayed recommends that in order to increase economic benefits that come from governmental fiscal policies, it is very important to apply a “smart” fiscal consolidation through policies that avoid non efficient public expenses.
News source: ATA
Photo credits: Victorgrigas / World Bank
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