Konfindustria against budget cuts

TIRANA, July 19 – The business community, represented by the association of Albanian industries Konfindustria, has expressed its concern over the high cuts in spending government has approved. In a statement issued last weekend, Konfindutria said that the political decision-making should be more courageous in order not to affect capital investments, necessary for the country’s economic development.
The Association says government is taking the austerity measures at a time when the European and global economy is showing signs of recovery.
Konfindustria representatives say government could have avoided budget cuts by regulating the country’s main markets such as the mobile and fixed line telephone as well as the fuel market, which it says currently operate under conditions of oligopoly.
Konfinsustria says the cuts in government spending will considerable increase financial straits for some of the industries at a time when the economy is suffering lack of liquidity and lending standards have tightened.
“It is completely possible that a more efficient fiscal administration system should be able to keep at home large amounts of foreign currency resources mainly obtained in monopoly markets of the economy which unfairly flow out,” added the association of industries.