Finance Minister presents 2007 draft budget to the Parliament

TIRANA, Oct.31 – Finance Minister Ridvan Bode gave an introductory speech to the Parliament on the draft budget discussions. The draft budget was presented to the parliament almost one month before the assigned deadline of Nov. 20. That was considered by the Minister as one of the most positive aspects as it gives time to the deputies to approve the budget and to the executive power to implement it on time for the new fiscal year. The budget has a qualitative improvement because it adjusts medium term goals to the Strategy of Integrated Planning, the minister explained. The improvements in the efficiency of public procurement were also visible in the new budget, according to Bode, who added that this feature would help large scale investments in particular. It is expected that by the end of 2007 the government will meet an historical target of state revenues, which will reach 25.8 percent of the GDP. The main sectors that will be supported by government spending for 2007 will be infrastructure, education and health care. Another important initiative of this budget is to meet in advance the required standard for military expenses in the context of NATO integration. Thus, military spending will reach 1.79 percent of the GDP.