World Bank: Top Public Debt in Balkan Countries

By the end of 2021 the level of public debt in the Albanian economy turns out to be 80.1%. This is the highest rate officially reported in the Albanian economy. The World Bank stresses that immediate measures are needed to stabilise the financial situation in the country.

Albania's “Public Editor is much higher than the average debt in the six Western Balkan countries. To ensure the stability of the country's finances, it is necessary that personal income tax rates be more fair, increase VAT revenues and reinforce fiscal policy credibility, especially through sustainable political commitment to fiscal rules”.

To improve the economic situation in the country, the World Bank suggests that it intervenes in improving the country's business climate.

“to increase the productivity of Albanian firms requires improving the business environment, strengthening innovation and deepening the Albanian integration process in the global economy”.

But beyond the growth of debt, economic performance seems to remain slow in the coming years. in 2022 this figure is projected to reach 4.1% of 8.7 %, due in 2021 and only 4 % in the next two years. / Abc News