Albania's finance minister and IMF chief discuss economic outlook and fiscal strategy

Tirana, July 12, 2024 —Albania's Finance Minister Ervin Mete met with Anke Weber, Head of the International Monetary Fund Mission for Albania. Their discussions, marking the conclusion of the IMF's recent visit, focused on Albania's economic performance and key macroeconomic indicators.

Minister Mete highlighted positive economic developments, noting Albania's 3.63% growth in early 2023 and a significant drop in inflation to 2.1% by June 2024, down from 4.5% the previous year. He also pointed out Albania's public debt reduction to 58.9% of GDP by late 2023, with expectations of further declines.

State budget revenues showed strong performance, totaling approximately 287.1 billion leks for the first five months of 2024, an 11.2% increase from the same period in 2023. Mete emphasized the recent approval of a new Public Finance Management Strategy aimed at enhancing transparency and fiscal oversight.

On her part, the IMF official commended Albania's efforts in ensuring fiscal stability and advancing fiscal consolidation. Discussions also covered the forthcoming release of a revised Medium-Term Revenue Strategy for public review.