"The European Bank for Reconstruction and Development claims that despite the economic growth during the last year, the poverty rate still remains high". This is how the European Bank for Reconstruction and Development assesses Albania's economic performance in the last published report "Transition for the year 2023-2024".
In the current conditions when the level of poverty is high, the EBRD directs its attention to social assistance.
A system of indexation of economic benefits and disability is recommended.
"It is necessary to increase efficiency and social assistance, including a system of annual indexation of economic and disability benefits", announces the EBRD.
Low trade relations, continued high inflation, but also tight monetary policies according to the EBRD are causing the slowdown in economic growth for 2023.
The European Bank advises increased caution towards the exchange rate, while after the strengthening of the lek it sees a record level of tourists, remittances, and foreign direct investments.
"Financial and exchange rate risk must be carefully monitored. The financial sector is liquid and stable, but vigilance must be maintained in light of the economic slowdown and the tighter monetary policy", continues the EBRD.
Analyzing the tax system, the European Bank stops at some suggestions.
"The government must further reduce arrears, increase the tax revenue ratio and improve compliance, including the recently adopted income tax law," the announcement concludes.
The development in the tourism sector translated into higher figures and income, EBRD considers a good performance. (A2 Televizion)
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