TIRANA, March 20 (Xinhua) -- Albanian government has approved the medium-term fiscal policy for the 2018- 2020 period which will be oriented towards fiscal consolidation and enhancement of investments, sources from Albanian ministry of finance informed Monday.
Finance ministry expects its Macro Financial Framework 2018-2020 to provide an optimal level of investment at around 4.6 percent of GDP.
Meanwhile, fiscal consolidation and public debt reduction is deemed as essential in reducing the risks from debt, which hinder growth and cause macroeconomic instability, ministry said in its document published by local media.
Referring to such document, Albanian government aims an overall fiscal deficit of 1.8 percent of GDP for 2018 from 2.0 percent projected for 2017, and a level of 1.0 percent of GDP in 2019, 0.6 percent in 2020.
The public debt is expected to fall to around 66.3 percent of GDP in 2018, to 62.8 percent in 2019 and then to 59.6 percent in 2020.
