RTSH.al

Malaj: Economy expected to grow about 4% on average in 2027–2029

Finance Minister Petrit Malaj said Albania expects average economic growth of about 4% between 2027 and 2029. He spoke to the media after the government meeting on Thursday.

First, Malaj explained the role of indicative spending ceilings. These ceilings define how much line ministries can spend. The government sets them based on projected economic growth and expected revenues.

Moreover, the Ministry of Finance calculates revenues through the General Directorate of Taxes and the General Directorate of Customs. As a result, higher ceilings allow ministries to increase spending.

Consequently, more funds could go to key sectors. These include education, agriculture, healthcare, and defense.

Malaj again stressed the economic outlook. According to government projections, Albania will maintain average growth of about 4% during the 2027–2029 period.

Meanwhile, state revenues are expected to rise significantly. The government projects about €500 million more in revenue each year during this period.

Therefore, public spending could increase by around 10%. In particular, spending on agriculture, healthcare, and education could each rise by roughly 10%.

Finally, Malaj said the expanded fiscal space will also support defense commitments. Specifically, the government aims to reach defense spending of 3.5% of Gross Domestic Product.

Të ngjashme

RTI