Today: Apr 30, 2026
Subscribe
Login
·

Albania accumulates €105 mln in new unpaid bills

by
4 mins read
9 years ago
Change font size:

TIRANA, Dec. 7 – Central and local government arrears have re-emerged as a risk to the country’s public finances after some €500 million was cleared in 2015 in payments to private sector companies contracted for public works under a two-year deal. Finance ministry data shows the central and local government units had accumulated at least €105 million, equal to 1 percent of the GDP, in unpaid bills to private companies, VAT refunds and other payments resulting from court decisions, by the end of August 2016. Local government units hold the overwhelming majority of about 90 percent of the arrears and…

Membership Required

You must be a member to access this content.

View Membership Levels

Already a member? Log in here

Story Highlights

  • Central and local government units had accumulated at least €105 million, equal to 1 percent of the GDP, in unpaid bills to private companies, VAT refunds and other payments resulting from court decisions, by the end of August 2016, according to the finance ministry Local government units hold the overwhelming majority of about 90 percent of the arrears and could be the most problematic to pay off as the central government has made it clear the now bigger municipalities following the 2015 administrative will have to use their own funds to pay them off.

Latest from Business & Economy

Prof. Dr. Alaa Garad is President and Founding Partner of the Stirling Centre for Strategic Learning and Innovation, University of Stirling Innovation Park, Scotland. He is actively engaged in health tourism, higher education and organisational learning across the Western Balkans, including the Global Health Tourism Leadership Programme in Albania.

Building a Trusted Health Tourism Ecosystem: Albania’s Next Competitive Advantage

·
Change font size: - + Reset by Professor Alaa Garad Tirana Times, March 17, 2026 – There are countries you visit, and there are countries you remember. Albania is rapidly becoming the
1 month ago
7 mins read
Subscribe
Login