14th April 2023, Washington – Implementing the ambitious reform agenda is the proper manner of restoring the long-term growth rates in our country. Policies are focused on ensuring public finance sustainability, shock resilience, green transition, digitalization, introduction of innovative solutions, strengthening the human capital and similar. The efforts the country puts for the purpose of joining the EU and providing both higher living standard for the citizens and streamlined business requirements, are also among our top priorities. This was pointed out at the IMF and WB Spring Meetings held between Minister Besimi and WB Vice President for the Europe and Central Asia Region, Antonella Bassani and WB Executive Director, Koen Dsavidse, taking place in Washington.
“Priorities, which are part of the Government’s reform agenda correspond with the programs implemented with our supporters the EU, the IMF and the WB. They are mutually connected, the ultimate goal of which is ensuring an inclusive growth. Existing 2019-2023 Country Partnership Framework focuses on supporting the municipal infrastructure, road construction, agriculture modernization, energy efficiency, reforms in the social sector and the primary education. Priorities, which will be part of the further cooperation with the World Bank, are to be defined in line with the already set rules on measuring the results”, Minister of Finance, Fatmir Besimi said.
He went on that the public finance management reform has already provided for setting fiscal rules, pertaining to the budget deficit and public debt levels, as well as performance indicators, i.e. investing the cash funds towards those generating best performance. Organic Budget Law has already been adopted. In cooperation with the World Bank, activities are undertaken for putting the new Integrated Financial Management Information System – IFMIS in place, incorporated in the Law, as well as strengthening the human capital, for which Human Capital Development Strategy was prepared.
Due to the crises we confronted in the past period, such as COVID-19 crisis and energy and price crisis, as per the Minister, digitalization, human capital investments and energy were identified as areas wherein investments should be made, all to the end of generating better economic performance.
So far, World Bank has provided our country with technical and financial assistance for 65 projects, amounting to more than US$ 2.8 billion. At present, activities are being undertaken for 9 projects, totaling US$ 404 million. Support in the next period will be intended for sustainable municipal development, better-quality air, digital economy, as well as tackling the energy crisis.
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