Albania’s debt has mounted to 80 percent like in Germany

"The 2022 budget has some key words and the first one is the social package of support for families and citizens in need. The debate can be done again whether it is enough, or not in such a difficult moment as the one that Albania went through, but we must keep in mind the fact that starting from next year we must reduce the debt," said the Minister of State for Reconstruction, Arben Ahmetaj .

Speaking in plenary session of Parliament as draft bill and the fiscal packet were discussed article by article on Thursday, Ahmetaj said the public debt has reached about 80%. "The debt is 80% high. It expanded in more than 100 countries. Germany has also increased it to 80%. The increase in Albania's public debt was a consequence of the economic downturn, the pandemic and the earthquake," he said.

However, the minister said that the Albanian economy is growing rapidly, and according to him, the reason is the care of the government and the economic vibrancy of economic actors that is reflected in growing exports, imports and consumption. He stressed that one of the reasons for economic growth is the consumption of the population, which has grown to a record.

"Today, the economic assistance for families with 3 children or more that are under 18 years of age is doubled through this budget. Unemployment benefits are also rising. Within the social package there are some elements that have to do with children and youth," said the minister.

Ahmetaj stressed that another indicator that speaks of an improvement in the economic situation is the increase in credit. "The economic situation is promising. Many can refer to credit. Credit is being revived for the first time. Imports of machinery and equipment are growing and year by year they are going up by almost 10%."

Referring to the investments in infrastructure he said that the main block is public investments. He announced that investments will be made for the Llogara tunnel, southern Albania, that connects two parts of the country, followed by the Great Ring of Tirana. "For the next four years, about 45 million dollars will be invested every year," said Ahmetaj. / Argumentum.al