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From fiscal amnesty, to money laundering and price increases, the warnings of the "IMF for Albania

2022-12-10 19:33:07Biznes SHKRUAR NGA REDAKSIA VOX
From fiscal amnesty, to money laundering and price increases, the warnings of
International Monetary Fund

The International Monetary Fund asks the Albanian government to be more careful regarding the risks that threaten the economy. The Executive Board of the IMF, at the conclusion of the Article IV consultations with Albania, has reaffirmed its position against the proposed tax amnesty, given the risks of governance and money laundering.

Referring to the official statement, the IMF calls for increased efforts to increase fiscal transparency and credibility, to improve public finance management and to strengthen fiscal risk monitoring and management. While putting emphasis on public-private partnership and public investment management frameworks, which are suggested to be aligned and fully integrated in the budget cycle.

Seeking to advance structural reforms, the IMF called for sustained progress on justice and anti-corruption reforms, emphasizing an accelerated exit from the FATF money laundering gray list.

According to the International Monetary Fund, combating informality would help curb immigration pressures. As for the risks facing our country, the IMF says that further increases in food and energy prices are a major risk, especially if they cause larger second-round effects and social unrest. Meanwhile, it is emphasized that the economy is also sensitive to adverse weather conditions and a change in the growth of real estate prices.

On the other hand, the IMF estimates that after a strong recovery in 2021, the Albanian economy has maintained a positive momentum despite the shock of the global economy from Russia's war against Ukraine. Real GDP growth is expected to reach 3.7 percent in 2022, as a result of strong activity in tourism, real estate and services.


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