BREAKING NEWS

The organizing group of the arms business in Gërdec is about to sink, the prosecutors are expected to take the facts from the American Justice in their hands, the order letters in the USA are launched, information will also be obtained about Patrick He...

The organizing group of the arms business in Gërdec is about to sink, the
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BREAKING NEWS

Daut Gumeni: This is why the socialists and Gentiana Sula blocked the opening of Ilir Metaj's spy file, we expect that the "syringe with sea water" that the DASH senior official injected into SPAK prosecutors will lead to the arrest of "heavyweights"

Daut Gumeni: This is why the socialists and Gentiana Sula blocked the opening of
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BREAKING NEWS

The scandal erupts, the Parliament of Albania is accused of voting without a quorum on the Law on Strategic Investments, this is how the Constitution was overturned by the majority, the fraud is revealed

The scandal erupts, the Parliament of Albania is accused of voting without a
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BREAKING NEWS

The dubious wealth of the "sheikh" of the Assembly Laert Duraj who challenges the old "wolves" in politics, apartment 200 thousand euros, 11 bank accounts, staggering profits from rent, 180 thousand euros from property sales, how he justified the milli...

The dubious wealth of the "sheikh" of the Assembly Laert Duraj who
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BREAKING NEWS

Here are the deals of the SP and Reestablishment, how they are defending the corruption of Klodian Allajbeu and Vilma Nushi, thefts with "Hemodialysis", "Check Up", "Laboratories" and "Sterilization" are proven, arrests are expected from SPAK

Here are the deals of the SP and Reestablishment, how they are defending the
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BREAKING NEWS

Rama-Berisha set up a commission to destroy SPAK and the Justice Reform, here are the new "non-women" deals with the prime minister to block arrests

Rama-Berisha set up a commission to destroy SPAK and the Justice Reform, here
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BREAKING NEWS

The Port of Vlora scandal broke, this is how Samir Manes was forgiven 57 thousand square meters of land, 2 ministers were implicated, SPAK takes over the lawsuit against the government mega-oligarch

The Port of Vlora scandal broke, this is how Samir Manes was forgiven 57
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BREAKING NEWS

The well-known journalist warns of sensational arrests in the coming days, here are some of the "scorching" files that SPAK is investigating and the scheme followed by BKH agents to arrest Jorgo Goro, the acting mayor of Himara was intercepted for 4 mo...

The well-known journalist warns of sensational arrests in the coming days, here
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Ekonomia

World Bank warns, fiscal situation could worsen due to business facilities, here are the forecasts for Albania

World Bank warns, fiscal situation could worsen due to business facilities, here

The fiscal situation in Albania may worsen by the end of 2021. This forecast was made by the World Bank through a recently published report on our country. According to the report, this year will record an economic recovery after the damage left by the pandemic, but accompanied by a series of setbacks. The bank analyzes that the tax exemption imposed by the government for a number of businesses in the country will prevent the state treasury from collecting sufficient revenue. Moreover, through a table with the data of economic indicators of our country, it is shown that revenues this year will experience a negligible increase compared to the pace of spending. Therefore, through this report, the World Bank recommends the Albanian government to work harder to raise revenue and improve the business climate, as well as reduce the level of budget expenditures. According to the WB, this is the only way to keep public debt under reduction. "The fiscal situation could worsen after 2021 if revenue collection does not increase and this is risky due to the fiscal facilities being applied this year approved during the time when businesses were under the Covid-19 crisis. In this case, the government may need to cut capital spending to keep the debt-to-GDP ratio under control. "Therefore, after 2021, limited fiscal space is likely to lead to a reduction in government spending," the report said. Among other things, the bank predicts that in the coming years growth will become increasingly dependent on private consumption, supporting reconstruction efforts. The WB addresses the same recommendation for the banking system in the country, which also continues to apply the facilities set during 2020. According to the report, this sector is important for the economy, but the consequences of the crisis will begin to feel this year, given the growth of non-performing loans. "In response to the pandemic, the BoA undertook such easing measures as moratoriums, restructuring and classification of loans, some of which will continue until the spring of 2021. But the effects of the crisis on the quality of the loan portfolio are expected to be clarified. more in the second half of 2021, with a possible increase in non-performing loans ", emphasizes BB.

Employment at risk

The World Bank predicts that employment will also be at risk by the end of 2021. The report estimates that tourism and the reconstruction process are the two sectors that will bring about employment growth in Albania. But, with the end of this season, the level of employees may fall sharply and employment may be at risk again. According to the Bank, the situation looks even worse if the reconstruction process is completed by the end of this year. The WB stressed that the Albanian economy as a whole does not provide security for the labor market. "Employment prospects depend heavily on the recovery of the service sector and reconstruction, where jobs are largely low-wage and exposed to economic insecurity. Reconstruction is expected to be the main pillar of economic recovery in 2021, being helped by a slight increase in private demand due to ongoing travel restrictions. But, the situation is not very safe for the employment market after the end of the tourist season, since most of the employees in this sector are informal, the damage will be even higher. "Also, the reconstruction process is expected to be closed by the end of 2021", the report says. As another element that jeopardizes employment in the country, the World Bank lists informality in the market and lack of transparency for vacancies in private companies. "Also, the reconstruction process is expected to be closed by the end of 2021", the report says. As another element that jeopardizes employment in the country, the World Bank lists informality in the market and lack of transparency for vacancies in private companies. "Also, the reconstruction process is expected to be closed by the end of 2021", the report says. As another element that jeopardizes employment in the country, the World Bank lists informality in the market and lack of transparency for vacancies in private companies.