Investments foreseen 111 billion ALL in Albania’s 2022 draft budget

"After the strong recession in 2020, currently projected at -4%, the economy is expected to recover significantly in 2021. The latest estimates for economic growth during 2021 reach the value of 7.6%, continuing this positive trend in the medium term 2022-2024 with an average of 4% per year. Economic growth is projected at 4.1% for 2022."

These estimations were provided by the Minister of Finance and Economy, Delina Ibrahimaj who presented the draft budget at the parliamentary conference of chairmen on Tuesday.

In 2022, according to Ibrahimaj, the total state budget revenues are projected to reach ALL 536.8 billion and of these tax revenues are projected to be ALL 500.2 billion.

Ibrahimaj stated that public investments are estimated at 6.4% of GDP or 111 billion ALL, including the reconstruction fund of 20 billion ALL.

"The total public expenditure for 2022 is planned at 637.6 billion ALL or 34.1% of GDP. These will continue to support priority sectors such as education, agriculture, health, infrastructure, etc. and will continue to support the reconstruction process after the 2019 earthquake," said the Minister. According to her, the budget deficit for 2022 is planned to be at the level of 5.4% of GDP from about 6.8% expected for 2021.

"Gross public debt will return to a downward trajectory starting in 2022 in accordance with the fiscal rule, where it is expected to fall to about 78.9 percent of GDP from about 80 percent expected for this year. The primary balance will return to a positive level (primary surplus) from 2024 onwards," said the Finance Minister. / Argumentum.al