"Economy in crisis", Basha: The IMF confirms our concerns

"Economy in crisis", Basha: The IMF confirms our concerns

According to Democratic Party chairman, Lulzim Basha, the lack of foreign investment, high level of debt, tax increases and thefts conducted under the guise of Public-Private Partnerships are a danger to the country's economy. 

Basha said that this is not only the position taken by the opposition but also that of the International Monetary Fund.

"The IMF mission has made critical and serious warnings about our country's future. The IMF has issued a clear message that Albania's economic situation will worsen even more in the future. 

"The IMF reiterates once again the high risk of PPPs, by asking for a real analysis to be conducted before deciding on them," declared Lulzim Basha.

Basha went on to add that the conclusion of the TAP and Devoll hydropower projects, investments that had been secured by the democratic government, are the last foreign investments in the country. 

Basha spoke of a secret public debt, which according to him threatens the economy.

"This government has not provided any new foreign investment to the economy. The termination of the TAP and Devoll cascade projects, investments secured by the democratic government, are the last foreign investments in Albania. 

"The IMF warns that debt has reached an unbearable level, at almost 72% of the country's production. 

"This debt does not include the hidden debt accumulated through PPPs, which increases the level by another 10 percentage points, bringing the real debt to 82% of the country's production," explained Lulzim Basha.

The Monetary Fund, said Basha, requires that public-private partnership be immediately stopped. He went on to add that he believes such partnerships being used for the purpose of laundering the money which are the proceeds of drug and crime.

EMISIONET