European union – albania stabilisation and association committee 11 March 2015 table of contents political criteria 3
|
|  Yüklə 2.37 Mb.
|
National Economic Reform ProgrammeThe Albanian government has submitted to the European Commission its medium term National Economic Reform Program (NERP) on 30th of January 2015. NERP 2015, which covers the period 2014-2017, was drafted with the contribute of different line ministries under the co-ordination of Ministry of Finance (for Part I) and Ministry of Economic Development, Tourism, Trade and Entrepreneurship (for Part II). The Programme consists of two parts. The first part includes a medium-term macro-economic and fiscal policy framework as well as the supporting structural reform measures; the second part includes the sectorial flagship reform measures for enhanced competitiveness and growth in Albania, all in line with the Albanian governmental priorities in fields such as transport, energy, tourism, environment, education, agriculture etc. It is based on and in accordance with Law no. 160/2014 "For the Budget Year 2015" and with the Macroeconomic and Fiscal Framework 2016-2018. The program is also fully in line with the second National Strategy for Development and Integration 2014 – 2020. This document was prepared by an inter-institutional working group with representatives and experts from relevant institutions of the Albanian government and Bank of Albania. The program was approved by the Council of Ministers on 28 of January 2015. Short technical assistance, for the drafting of Part II, was received by OECD in the framework of IPA-funded OECD programme for South East Europe. After the final version of the document was adopted and in order to underline the political engagement to the process, NERP was sent for approval to the Council of Ministers. NERP 2015was finally approved by Decision of Council of Ministers no. 71 date 28.1.2015. For more information, please refer to National Economic Reform Programme of Albania 2015 – 2017, Annex 4.3.1. Debt stock development Central Government Debt at the end of December 2014 was estimated at 976.472 million ALL or 69.06% of GDP, where domestic debt stands at the level of 39.94% of GDP and external debt at 29.12 % of GDP. If we take into account arrears than the level of debt stands at the level of 71.64% of GDP. The following table shows the change in the composition of debt from 2010 up to December 2014.
During the year 2014 the level of debt was increased by 10.37% or ALL 91.8 billion compared to the previous year.  
From the above charts it is noticed a considerable increase in the nominal value of debt during 2014, however it must be taken in consideration the fact that from ALL 91.8 billion increase only ALL 56.8 billion are attributed to the deficit, the rest is used to clear the accumulation of arrears from the previous years in accordance with the agreement between the Government and IMF. Starting from the next year the Government will take all the necessary measures in order to consolidate debt and reach the target of 60% at the end of 2019. |