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Albania - Country partnership strategy progress report for the period FY11-FY14 (English)

This progress report assesses the implementation of the FY11-FY14 joint Bank-international Finance Corporation (IFC) Country Partnership Strategy (CPS) for Albania and sets out planned activities for FY13 and 14. The CPS identifies three strategic objectives for World Bank Group (WBG) support: 1) supporting a recovery in economic growth by improving competitiveness through fiscal consolidation, better public sector management, an improved business climate, deeper access to credit and reduction of infrastructure bottlenecks; 2) sustaining and broadening social gains through enhanced social protection and more effective social services; and 3) reducing vulnerability to climate change through improved water resource and disaster management. The objectives and pillars of the CPS remain unchanged since its preparation in FY11, but the prolonged volatility in Eurozone economies since 2008 points to the need for increased emphasis on reducing economic vulnerabilities and supporting economic growth. Albania's growth outlook has weakened substantially due mainly to the continued deterioration of the external environment. While an expansionary fiscal policy helped mitigate the negative effects of the global crisis in 2009, fiscal space is now exhausted and public debt is projected to exceed 60 percent of Gross Domestic Product (GDP) in 2012 and 2013. The recent sluggish economic performance has likely been insufficient to reduce poverty. Overall, Albania still faces a number of challenges with respect to the availability and accuracy of statistics in terms of both macroeconomic monitoring and social welfare measurement.

Details

  • Document Date

    2013/04/18

  • Document Type

    Country Assistance Strategy Document

  • Report Number

    72899

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Albania,

  • Region

    Europe and Central Asia,

  • Disclosure Date

    2013/06/10

  • Disclosure Status

    Disclosed

  • Doc Name

    Albania - Country partnership strategy progress report for the period FY11-FY14

  • Keywords

    Swiss State Secretariat for Economic Affairs;secondary and local road;Life in Transition Survey;Demographic and Health Survey;Analytical and Advisory Activities;Payments for Goods and Services;Financial Sector;public debt;alternative dispute resolution program;integrated solid waste management;vulnerability to climate change;macroeconomic stability and growth;river basin management plan;legal and regulatory framework;Cost of Doing Business;fiscal consolidation;Public Financial Management;high debt levels;Objectives and Outcomes;Energy Sector;adaptation to climate;analysis of expenditure;private sector compliance;competitive private sector;access to information;implementation of reform;Secondary Health Care;budget support operations;salary and pension;expansionary fiscal policy;organic budget law;government fiscal deficit;secondary school curricula;Catastrophe Risk Insurance;economic growth rate;labor market need;medium-term expenditure framework;Natural Resource Management;debt management practice;primary health care;power sector reform;mandatory health insurance;performance based contract;commercial bank lending;asset management system;increase in income;management of forest;power sector entity;efficiency and quality;social protection system;management of health;quality and efficiency;mobilization of funds;river basin authority;Water Resource Management;investment in water;Public Administration Reform;labor force participation;social services access;share of woman;information on gender;private sector demand;transmission and distribution;demand for credit;transparent public procurement;Rule of Law;international accounting standard;improve water resource;sovereign debt crisis;current account balance;banking system asset;machinery and equipment;foreign direct investment;quality of bank;development of infrastructure;lack of investment;global financial crisis;value added tax;Development Policy Operation;Exchange Rates;weights and measure;Human Immunodeficiency Virus;property right;economic slowdown;Financial Stability;banking sector;social gains;fiscal space;

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Citation

Albania - Country partnership strategy progress report for the period FY11-FY14 (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/571251468006294903/Albania-Country-partnership-strategy-progress-report-for-the-period-FY11-FY14