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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…
