TIRANA, April 14 – A modern and transparent management of public funds will free up hundreds of million euros for the Albanian citizens to improve their daily life, European Commission officials have said.
Speaking at the launch of the 2014-2020, public finances management strategy in Tirana this week, DG NEAR’s Director for Western Balkans, Jean-Eric Paquet said “reducing waste of money, increasing efficiency, eliminating corruption and mismanagement of scarce resources are the easiest tools in the hands of the country for competitiveness and economic development.”
Albania’s Finance Minister Shkelqim Cani said that the implementation of this comprehensive strategy “will substantially improve the management of public funds, thus offering better services for the citizens and improving the pace of the country’s economic development.”
Violation of fiscal discipline in the past few years led to the accumulation of around of 72.6 billion lek (Euro 500 million) or 5 percent of the GDP in unpaid bills to the business community which are being cleared under a three year project initiated in 2014.
Albania’s public finances management strategy is geared to put in place a prudent macro fiscal framework, strengthened medium term budgeting of public expenditure, controls on multi-year commitments, improved collection of revenues and transparent financial reporting mechanisms. The strategy aims to establish better internal control and financial management practices, prevention and fight against fraud and corruption in the management of public funds as well as enhanced external audit and oversight of the budget.
The adoption of the Strategy was a key milestone that enabled the way for the EU Sector Budget Support programme. The EU Sector Budget Support programme of Euro 40 million provides funds to the national budget in the next three years on the basis of reforms achieved, says the EU Delegation in Albania. It will also be coupled with increased transparency towards the public, support to the Parliament in its oversight role and in empowering of the civil society organizations.
