Today: Sep 19, 2026
Subscribe
Login
·

Albania accumulates €105 mln in new unpaid bills

by
4 mins read
10 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…

Yearly subscription Membership Required

You must be a Yearly subscription member to access this content.

Join Now

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

Prime Minister Rama, Former Deputy PM Ministedr Balluku and Mr. Bexhet Pacolli
Prime Minister Rama, Former Deputy PM Ministedr Balluku and Mr. Bexhet Pacolli

Vlora Airport Heads to Arbitration

Change font size: - + Reset Albania faces another potentially costly international dispute after losing several arbitration cases in recent years that have exposed the state to hundreds of millions of euros
1 month ago
4 mins read
Subscribe
Login