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President Ilir Meta has returned the Normative Act on “Budget Management”. According to Meta, the Normative Act removes any legal obstacles, to pave the way for unlimited growth of public debt.
Among other things, he emphasizes that the approved changes have a high real risk for further growth of public debt, exceeding the limit of 80% of GDP.
“The Normative Act removes any legal obstacles, to pave the way for the unlimited growth of public debt. The approved changes pose a risk of non-compliance with financial discipline for fiscal administration both in terms of resources and public spending. It is not justified by either “need” or “urgency”.
Exceeds the constitutional powers of the Council of Ministers. The Normative Act increases public spending and undermines the sustainability of public finances, contrary to the IMF recommendations. Reflects a high level of government irresponsibility towards not supporting families in need and businesses affected by COVID-19.
The Normative Act does not come as a solution to the problems identified by the pandemic, but further deepens it. It does not meet the expectations of the citizens by violating the state revenues “, informs Meta./abcnews.al
