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Albania to reduce Agriculture budget to address public debt

The Albanian Government would decrease the Agriculture budget in the coming years in a bid to reduce the public debt, according to local media.

Agriculture funds will drop to 0.53 per cent of national production in 2019, compared with 0.66 per cent or 101 million U.S. dollars this year.

In 2021 it will drop further to 0.48 per cent.

Agriculture employs almost half of Albania’s labour population and agricultural production accounts for about 20 per cent of GDP.

The government has committed itself to reducing the public debt from the current nearly 69 per cent to 63.5 per cent by 2020.

According to economists, the tightening of budget policy is expected to affect other sectors of the economy besides agriculture, as the government will have less room for new debt. (Xinhua/NAN)


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