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Figure/ How much is Albania's debt according to the Rama government
2022-08-12 12:13:01 / EKONOMI&SOCIALE
The government anticipates moderate economic growth in the medium term, at a time when public debt will continue to remain at high levels. In the draft document of the medium-term budget programs 2023-2025, the economy is expected to grow at an average rate of 4% per year. After the strong recession of -3.5 percent in 2020, the Government states in the document, the economy has started to recover strongly in 2021, projected at the rate of 8.7 percent and is expected to continue the positive trend in the following medium term.
Economic growth is forecast at 4.1 percent in 2022 and is expected to average around 4 percent per year over the next medium-term period 2023-2025. More specifically, economic growth is projected at 4.2, 3.9, and 3.9 percent for the years 2023, 2024, and 2025, respectively.
The level of Public Debt is predicted to decrease to 72.1% of GDP in 2025, from the level of 74.8% of GDP predicted for 2022, despite the very positive results in its service during the year we are in; while Tax revenues are predicted at the level of 27.5% of GDP in 2025, from 26.8% that is predicted for 2022.
Expectations are positive regarding consumption, which at least for 2022 has been put under pressure by very high interest rates. inflation. Specifically, total final consumption for the medium term (2023 – 2025) is projected to grow in real terms by an average of 2.7 percent per year, contributing an average of 2.5 percentage points per year to GDP growth.
While total investments in the economy are predicted to increase in real terms by an average of about 3.9 percent in the years 2023-2025, with an average contribution to total growth of about 0.9 percentage points per year.
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