Economic performance in first quarter analyzed

TIRANA, April.25 – The Finance Minister Ridvan Bode presented on Wednesday a report on the economic ad financial performance of Albanian authorities for the first quarter of 2007. In his analysis Bode stressed that most indicators show a performance according to the budget plan with 98 percent of all projected revenues actualized, an increase of 10 percent in value Added Tax Collection (26 percent higher than last year) Local administration has realized only 65 percent of the expenditures planned, mostly because of the local elections that were conducted in February. Customs Office also collected 10 percent more revenues.
From foreign investments the highest share of the grants goes to the Ministry of Agriculture and that of Labor and Equal opportunities. On the expenditure side an 88.2 percent performance level has been noticed where the indicators put the Ministry of Public Works, Transportation and Telecommunication in the most advanced level. Given the resignation of Foreign Minister Mustafaj, this Ministry will change leader coming under Sokol Olldashi and its current minister, Lulzim Basha will take over the Ministry of Foreign Affairs. In another event, a presentation of BoA to the Economy Commission, Governor Ardian Fullani analyzed some indicators of the 2006 financial setting. He expressed concern at the low level of foreign investments that make up no more than 3.5 percent of the GDP, a figure that sounds concerning when compared to other countries. Fullani said that the major challenge for Albania remains energy.