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Economy

Denaj: Positive indicators for the economy are expected

  • 2/12/2021 9:38 AM
Denaj: Positive indicators for the economy are expected

The Minister of Finance and Economy, Anila Denaj, invited to the show "Real Story" commented on the fiscal indicators for public expenditures and revenues published by her own institution. Denaj says negative indicators were expected, but the figures are less than the worst-case scenario.

For the whole year 2020 Denaj says that an economic decline of 4.5-4.7% is forecast, much less than other scenarios of international organizations. She confirms that with the third quarter of 2020, Albania has entered a turnaround and positive indicators for the economy are expected.

"We have coped a year better than we had thought. In terms of revenue reduction, -7% from -15 that we had predicted. Increased spending,  with an increased debt but not in the forecast parameters. We are talking about a forecast for 2020 in relation to the deficit and debt, - 8.3%, today we have -7%. We faced two crises, and we succeeded. Debt expansion was unquestionable in the conditions we faced, since we were coming from a previous crisis, where it hit the economy and left many homeless. It is worth saying that the figures are less than in the worst case scenario.

Regarding economic growth, Denaj said that INSTAT regulators have not been published. To be a reference, but in the third quarter we came to the turn with 10.23 minus. We are talking about the economy, 5.5% in the entire 9 month period. Given the calculations, we forecast a very good indicator somewhere at minus 4.5, 4.7% for the economic downturn. Much lower than the worst case scenario of the EBRD," Denaj said.

/Klara Ruci/