Albania Public Finance Review : Part 2. Improving the Efficiency and Quality of Public Spending
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Washington, DC
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Albania's rapid growth in the
decade up to the 2008 global financial crisis propelled it
to middle-income status and helped to reduce poverty. The
global financial crisis in 2008 slammed the brakes on
Albania's largely domestic-demand-driven growth. The
government has accumulated sizable arrears in payments for
public works and value-added tax (VAT) refunds. In a
baseline scenario of no policy reforms, Albania's
public debt-to-gross domestic product (GDP) ratio is
projected to reach 73.5 percent in 2015 and stay above 72
percent over the medium term. Empirical evidence confirms
that high public debt depresses economic activity and
significantly increases the probability of default. This
report examines closely the opportunities for fiscal
consolidation on both the revenue and expenditure sides.
Combined effect of structural reforms will reduce
Albania's public debt to GDP ratio significantly over
the medium term. It can in parallel rebalance its capital
spending, particularly in transport, toward maintenance to
support growth. Albania needs to strengthen its institutions
to reinforce financial discipline and strengthen fiscal
policy. Institutional reforms are particularly needed with
regard to public financial management (PFM) and introducing
a fiscal rule to anchor policy over the medium term.
Palabras clave
ACADEMIC PROGRAMS, ACCESS TO EDUCATION, ACCOUNTING, ACCREDITATION, AGED, AVERAGE SCORE, BASIC COMPETENCIES, BASIC EDUCATION, BASIC EDUCATION FOR CHILDREN, CAREER, CAREER DEVELOPMENT, CIVIL SERVICE, CLASS SIZE, CLASS SIZES, CLASSROOM, CLASSROOMS, COMMUNICABLE DISEASES, COMPULSORY BASIC EDUCATION, COMPULSORY EDUCATION, CORPORATE INCOME TAX, CROWDED CLASSROOMS, CURRICULA, CURRICULUM, CURRICULUM REFORM, DECISION MAKING, DEGREE PROGRAMS, DISABILITIES, DROPOUT RATES, EDUCATION BUDGET, EDUCATION DEPARTMENTS, EDUCATION FACILITIES, EDUCATION MANAGEMENT, EDUCATION OFFICES, EDUCATION POLICIES, EDUCATION POLICY, EDUCATION REFORMS, EDUCATION SECTOR, EDUCATION STATISTICS, EDUCATION SYSTEM, EDUCATIONAL OUTCOMES, EDUCATIONAL POLICIES, ELECTRICITY, ENROLLMENT DATA, ENROLLMENT RATE, ENROLLMENT RATES, ENROLLMENT RATIO, ENROLLMENT STATISTICS, ENTRANCE EXAM, EQUITY IN EDUCATION, EXAM, EXPENDITURES, EXTRACURRICULAR ACTIVITIES, FAMILIES, FINANCIAL MANAGEMENT, FOREIGN LANGUAGES, FUNCTIONAL READING, GENDER PARITY, GER, GIRLS, GOVERNMENT SPENDING, GROSS DOMESTIC PRODUCT, GROSS ENROLLMENT, GROSS ENROLLMENT RATE, GROSS ENROLLMENT RATES, GROSS ENROLLMENT RATIO, HEALTH OUTCOMES, HEALTH SERVICES, HEALTH SPENDING, HIGH BLOOD PRESSURE, HIGHER EDUCATION, HIGHER EDUCATION ENROLLMENT, HIGHER ENROLLMENT, HIGHER GRADES, HOSPITALS, HUMAN CAPITAL, HUMAN DEVELOPMENT, HUMAN RESOURCE MANAGEMENT, HUMAN RESOURCE PLANNING, HUMAN RESOURCES, HYPERTENSION, ILLITERACY, INFLATION, INFORMATION SYSTEMS, INFORMATION TECHNOLOGY, INSTITUTIONS OF HIGHER EDUCATION, INSURANCE, INVESTMENT IN EDUCATION, JOB SECURITY, LABOR FORCE, LEADERSHIP, LEARNING, LEARNING OUTCOMES, LEVEL OF EDUCATION, LEVELS OF EDUCATION, LIFE EXPECTANCY, LIFE EXPECTANCY AT BIRTH, LITERACY, LITERACY THRESHOLD, LOCAL GOVERNMENTS, MEDICINES, MINISTRIES OF FINANCE, MINISTRY OF EDUCATION, MORBIDITY, MORTALITY, MULTIGRADE CLASSES, MUNICIPALITIES, NATIONAL BUDGET, NATIONAL EXAMINATIONS, NER, NET ENROLLMENT, NET ENROLLMENT RATE, NET ENROLLMENT RATIO, NUMBER OF PUPILS, NUMBER OF STUDENTS, NUMBER OF TEACHERS, OUTPATIENT CARE, PATIENT, PERFORMANCE INDICATORS, PHYSICIANS, PREPRIMARY EDUCATION, PRIMARY ENROLLMENT, PRIMARY HEALTH CARE, PRIMARY HEALTHCARE, PRIMARY LOWER SECONDARY, PRIVATE COLLEGES, PRIVATE EDUCATION, PRIVATE HIGHER EDUCATION, PRIVATE INSTITUTIONS, PRIVATE SCHOOL, PRIVATE SCHOOL STUDENTS, PRIVATE SCHOOLS, PRIVATE SECTOR, PRIVATE UNIVERSITIES, PROFESSIONAL QUALIFICATIONS, PROVISIONS, PUBLIC, PUBLIC DEBT, PUBLIC FINANCE, PUBLIC HEALTH, PUBLIC INSTITUTIONS, PUBLIC INVESTMENT, PUBLIC INVESTMENTS, PUBLIC SCHOOLS, PUBLIC SECTOR, PUBLIC SECTOR EMPLOYMENT, PUBLIC SERVANTS, PUBLIC SERVICE, PUBLIC SPENDING, QUALITY ASSURANCE, QUALITY HIGHER EDUCATION, QUALITY OF EDUCATION, QUALITY OF HIGHER EDUCATION, QUALITY STANDARDS, READING, REGIONAL EDUCATION, REGIONAL UNIVERSITIES, RESOURCE ALLOCATION, ROADS, RURAL AREAS, SALARY INCREASES, SAVINGS, SCHOOL BOARDS, SCHOOL ENROLLMENT, SCHOOL OPERATIONS, SCHOOL YEAR, SCHOOL-AGE, SCHOOL-AGE POPULATION, SCHOOLING, SECONDARY EDUCATION, SECONDARY SCHOOLS, SEVERE DISABILITY, SKILLED LABOR, SKILLS REQUIREMENTS, SMOKING, SOCIAL SERVICES, SOCIAL WELFARE, SPORTS, STATE OWNED ENTERPRISES, STUDENT ASSESSMENT, STUDENT ASSESSMENTS, STUDENT CHARACTERISTICS, STUDENT DATA, STUDENT OUTCOMES, STUDENT PERFORMANCE, STUDENT POPULATION, STUDENT-TEACHER RATIOS, TAXATION, TEACHER, TEACHER CERTIFICATION, TEACHER QUALIFICATION, TEACHER SALARIES, TEACHER TRAINING, TEACHERS, TEACHING, TEACHING MATERIALS, TERTIARY EDUCATION, TEXTBOOK, TRAINING COURSES, TRANSPARENCY, UNEMPLOYMENT, UNEMPLOYMENT RATE, UNIVERSAL COVERAGE, UNIVERSITY EDUCATION, UNIVERSITY ENTRANCE, UNIVERSITY ENTRANCE EXAMINATIONS, UNIVERSITY STUDENTS, UNIVERSITY TEACHERS, UTILITIES, VOCATIONAL EDUCATION, VULNERABLE CHILDREN, WORKERS