Albania pays 200-mln-dollar arrears to spur economy
Apr 29,2014
TIRANA, April 29 (Xinhua) -- The Albanian government has
paid 200 million U.S. dollars worth of arrears to businesses to spur
economic growth, Albanian Finance Minister Shkelqim Cani said Monday.
The move should have positive effect on the economy, boosting business confidence, especially in terms of employment, Cani said at a meeting with the National Labor Council.
Since 2005, the government has owed businesses debts totalling 720 million dollars, equivalent to 5.3 percent of the country's GDP, according to the Albanian Telegraphic Agency (ATA).
Meanwhile, the government has also been mulling a legal package to improve the relationship between the administration and businesses, to guarantee a high return on investment, employment and budget incomes, Cani said.
The Albanian economy is estimated to have posted a growth of just 0.7 percent in 2013, the lowest in more than a decade, according to International Monetary Fund statistics.
The move should have positive effect on the economy, boosting business confidence, especially in terms of employment, Cani said at a meeting with the National Labor Council.
Since 2005, the government has owed businesses debts totalling 720 million dollars, equivalent to 5.3 percent of the country's GDP, according to the Albanian Telegraphic Agency (ATA).
Meanwhile, the government has also been mulling a legal package to improve the relationship between the administration and businesses, to guarantee a high return on investment, employment and budget incomes, Cani said.
The Albanian economy is estimated to have posted a growth of just 0.7 percent in 2013, the lowest in more than a decade, according to International Monetary Fund statistics.
No comments:
Post a Comment