The Ministry of Finance introduced Albania’s third Public Finance Management (PFM) Strategy for 2023-2030. This critical document, developed with support from experts in the EU-funded “EU for Good Governance” Technical Assistance Project, will steer reforms in public finance management over the next decade.
The meeting brought together key figures, including the Minister of Finance, Mr. Ervin Mete; the EU Ambassador to Albania, Mr. Silvio Gonzato; the World Bank Country Manager, Mr. Emanuel Salinas; the Chairman of the Parliamentary Committee on Economy and Finance, Mr. Eduard Shalsi; and other representatives from the Ministry of Finance and government institutions.
The Minister of Finance emphasized the strategy’s commitment to strengthening budget processes, focusing on enhanced monitoring, improvements in the tax and customs systems, and increased auditing of expenditures. He noted that revenue collection had performed strongly in early 2024, with projections reaching over 28% of GDP. Furthermore, the Minister highlighted a significant reduction in payment arrears to around 1% of total expenditures— the lowest since 2016—demonstrating the impact of ongoing reforms in public finance management.
EU Ambassador Gonzato reiterated the EU’s firm support for Albania’s EU accession efforts, stressing that sound public finance management is central to the integration process. He highlighted the importance of the PFM strategy in promoting effective governance, democratic integrity, and progress across critical EU chapters, including public administration reform and public procurement.
The new Public Finance Management Strategy was released for public consultation in early April and is scheduled for approval in the first half of 2024, marking the beginning of its implementation phase.
