Albania: Second Review Under the Three-Year Arrangement Under the Poverty Reduction and Growth Facility, Review Under Extended Arrangement, and Financing Assurances Review

Author: International Monetary Fund

Volume/Issue: Volume 2007 Issue 075

Publication date: February 2007

ISBN: 9781451800890

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , macroeconomic performance , PRGF arrangement , government , amount equivalent to SDR , feasibility study , Executive Board's discussion of Albania , equivalent of SDR , privatization of a minority stake , Government debt management , Loans , Credit

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Summary

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility for Albania. The outlook for 2007 is positive, with growth projected at 6 percent. These developments owe much to good macroeconomic policies. All quantitative program targets were met. The 2007 budget is in line with the medium-term fiscal framework, which strikes a balance between reducing public debt and increasing priority expenditure. Progress in structural reform has been generally good. The program focuses on reducing fiscal vulnerabilities, improving budget management, and developing the financial system.