TIRANA, June 3 – The World Bank has identified five top priorities with the greatest impact on growth, poverty reduction and inclusion.
Restoring fiscal sustainability, financial stability and macroeconomic balances is the number one priority considering Albania’s underperforming revenues, high level of non-performing loans and public debt at around 70 percent of the GDP.
The number 2 priority is establishing a high-quality business environment that promotes firm growth and job creation. The World Bank also suggests providing clean energy efficiently, equitably sustainably as another priority.
Formalizing and enhancing the inclusiveness and sustainability of the land market and enhancing governance, transparency and accountability of government are the final fundamental priorities the World Bank has identified.
Other supporting and sustaining priorities include increasing the quality and inclusiveness of labor market engagement and enhancing effectiveness and efficiency of social protection systems.
A slower recovery in the Eurozone could lead to slower than expected growth, revenue collection and fiscal consolidation and have implications for the development policy loan in Albania, warns the World Bank in its latest report after pledging up to $1.2 billion in lending in the next five years.
