Albania: Staff Report for the 2016 Article IV Consultation, Seventh Review Under the Extended Arrangement, and Request for Waiver of Applicability and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Albania

June 9, 2016

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Albania: Staff Report for the 2016 Article IV Consultation, Seventh Review Under the Extended Arrangement, and Request for Waiver of Applicability and Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Albania, (USA: International Monetary Fund, 2016) accessed November 26, 2024

Summary

This paper presents an overview of recent economic developments, outlook, and risks of the Albanian economy. Over the past few years, Albania has successfully maintained macroeconomic stability amid a turbulent external environment. A sizable fiscal consolidation is underway, and public debt is projected to start decreasing in 2016. However, growth remains sluggish due to a weak euro area recovery and risk-averse banks. The policy mix focuses on fiscal adjustment, while supporting growth through gradual monetary easing. The key policy priorities are to lower fiscal vulnerabilities through continued consolidation, revive private sector credit by cleaning up bank balance sheets, and continue implementing growth-friendly structural reforms.

Subject: Arrears, External debt, Inflation, Prices, Public debt, Revenue administration

Keywords: Arrears, CPI inflation, CR, Economy growth, FDI, Global, Headline inflation, Inflation, Inflation consultation letter, Inflation expectation, ISCR, Price, Rate

Publication Details

Pages:

120
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/142
Stock No:

1ALBEA2016003
ISBN:

9781475519426
ISSN:

1934-7685

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