Albania Public Finance Review : Part 2. Improving the Efficiency and Quality of Public Spending

World Bank

Albania Public Finance Review : Part 2. Improving the Efficiency and Quality of Public Spending

2014

World Bank

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.

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Publisher

Washington, DC

Other Subjects

Degree programs; Enrollment statistics; Gross enrollment; Teacher salaries; Expenditures; Multigrade classes; Education facilities; Job security; Ministry of education; Salary increases; Student outcomes; Vulnerable children; Private universities; Compulsory basic education; Education statistics; School operations; Foreign languages; Education reforms; Health outcomes; Tertiary education; Gross enrollment rates; Ner; Net enrollment; School-age; Sports; Public investments; Teacher; Local governments; Outpatient care; Performance indicators; Private higher education; National budget; Crowded classrooms; Human development; Public servants; Exam; Public; Labor force; Accreditation; State owned enterprises; Student data; Enrollment ratio; Student assessment; Student-teacher ratios; Education offices; Learning outcomes; Preprimary education; Unemployment rate; University students; Gender parity; Enrollment rates; Classroom; Net enrollment ratio; Enrollment rate; Schooling; University entrance examinations; University education; Levels of education; Gross enrollment rate; Number of students; Life expectancy; Human resource planning; School boards; Class sizes; Enrollment data; Corporate income tax; Level of education; School year; Universal coverage; Education management; Higher enrollment; Primary enrollment; Dropout rates; School enrollment; Career; Class size; Skills requirements; Financial management; Quality of higher education; Severe disability; Public service; Student population; Professional qualifications; Primary health care; University entrance; Skilled labor; Academic programs; Entrance exam; Average score; Primary lower secondary; Textbook; Education policy; Primary healthcare; Public sector employment; Number of teachers; Transparency; Regional universities; Extracurricular activities; Equity in education; National examinations; School-age population; Private school students; Student assessments; Student characteristics; Public spending; Education system; Municipalities; Ministries of finance; Basic education for children; Functional reading; Utilities; Government spending; Gross enrollment ratio; Teacher certification; Institutions of higher education; Student performance; Private colleges; Health spending; Regional education; Classrooms; Reading; Compulsory education; Higher education enrollment; Secondary schools; Career development; Private schools; Literacy threshold; Ger; Education sector; Access to education; Curriculum reform; Teacher qualification; Higher grades; Provisions; Quality standards; Basic competencies; Public schools; Quality of education; Education budget; Curricula; Educational outcomes; Education departments; Girls; University teachers; Disabilities; Quality higher education; Net enrollment rate; Number of pupils; Life expectancy at birth; Private institutions; Investment in education; Education policies; Private school

Language

English

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application/pdf, text/plain

License

CC BY 3.0 IGO, http://creativecommons.org/licenses/by/3.0/igo/

In AGRIS since: 2024-10-18

Modification date: 2025-05-23

Format: Dublin Core

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DOI http://documents.worldbank.org/curated/en/2014/05/20233061/albania-public-finance-review-vol-2-2 https://hdl.handle.net/10986/20442

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Albania Public Finance Review : Part 2. Improving the Efficiency and Quality of Public Spending

2014

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