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Albania accumulates €105 mln in new unpaid bills

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4 mins read
10 years ago
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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…

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  • 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.

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