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Fiscal Objective in the Post IMF Program World; The Case of Albania

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  • Jiri Jonas

Abstract

The 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.

Suggested Citation

  • Jiri Jonas, 2010. "Fiscal Objective in the Post IMF Program World; The Case of Albania," IMF Working Papers 10/77, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:10/77
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    Cited by:

    1. Shijaku, Gerti, 2012. "Sustainability of fiscal policy: the case of Albania," MPRA Paper 79089, University Library of Munich, Germany.

    More about this item

    Keywords

    Debt sustainability; Albania; Fiscal policy; Fiscal rules; public debt; debt ratio; fiscal rule; fiscal balance; National Deficit Surplus;

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