Date: 25 May 2018, Tirana

Focus : Sustainable Economic Growth and Employment

On May 25th 2018, the Foundation “Qemal Stafa” organized the fourth Panel Discussion, focused on adapting the Albanian legislation with the EU Acquis.

Moderated by the Executive Director of the “Qemal Stafa” Foundation, Mrs.Teuta Vodo, the discussion was conducted under the topic “Strengthening Public Finance Management: A Condition for Sustainable Economic Growth and Employment”.

The panelists who offered their approach to the topic were Mr. Erjon Luçi, the Deputy Minister of Finance and Economy, Mr. Elton Haxhi, the Deputy Minister of Finance and Economy and Ms. Vanina Jakupi, Director of Public Administration Reform Management Directorate.
This discussion was focused on strengthening public finance management as a prerequisite for sustainable economic growth and employment.
As Mr Luçi, the Deputy Minister of Finance and Economy noted: “The vision of the Public Finance Management Reform Strategy is to provide a public financial system that promotes transparency, accountability, fiscal discipline, efficiency in managing and using public resources.”
What we aim to achieve through these strategies is to improve service delivery and economic development.

Meanwhile, Mr. Elton Haxhi during his speech stressed that : “The main priority of the Public Finance Management Reform is the achievement of a well-balanced and sustainable budget with a reduced public debt ratio through consolidation of financial management and control and audit processes.”

The Ministry of Finance is a strong partner in the fight against corruption, which is one of the five priorities that the European Commission has urged Albania to complete.
To accomplish this priority, we have included in the Action Plan 2018-2020 of the Cross-Sectoral Anti-Corruption Strategy 2015-2020, a specific objective dedicated to the internal audit of public institutions.
As Ms. Vodo explained: “What we aim is better management of public funds and protecting the financial interests of public entities against serious financial mismanagement, fraud, theft, property destruction, abuse of power or corruption.”
Also, Mrs. Vanina Jakupi stated that “It is not enough to have a well designed reform, but we also need the presence of a clear and well-structured monitoring process that ensures its implementation and eventual improvement”.

During the discussion was highlighted the role of local government bodies in the effective management of public finances.
Providing public services efficiently by local governments and collecting taxes and taxes are some of the tools that contribute to and foster the country’s economic development.
Mrs. Vodo concluded that the knowledge of the Ministry of Finance and Economy’s policies on public finance management and the accurate monitoring of the Public Financial Management Reform Strategy are very important because a well designed public finance management guarantees a governance democratic, macroeconomic stability, effective use of available resources, and poverty reduction.