Fiscal Objectives in the Post IMF Program World: The Case of Albania
AbstractThe paper discusses the challenges facing Albania's fiscal policy following the graduation from the IMF programs. It argues that Albania's public debt remains too high and needs to be reduced. Strengthening the fiscal framework, including by introducing a numerical fiscal rule, could help achieve this objective. The paper discusses two alternative rules, with the objective of achieving a gradual decline in the public debt ratio. One rule would limit nominal expenditure growth, with a correction mechanism to guard against revenue slippages and other shocks. An alternative rule would limit the growth in nominal public debt.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/77.
Date of creation: 01 Mar 2010
Date of revision:
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-05-02 (All new papers)
- NEP-MAC-2010-05-02 (Macroeconomics)
- NEP-PBE-2010-05-02 (Public Economics)
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