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Finance allocates about 20 percent of annual capital investment plan in 6-month, lowest level in 8 years

2024-08-06 11:25:00Biznes SHKRUAR NGA REDAKSIA VOX

Finance allocates about 20 percent of annual capital investment plan in 6-month,

At the end of the first half of this year, the Ministry of Finance has released only 19.6% of the capital investment fund from the budget programmed and approved in Parliament for this year.

Out of 135 billion ALL, which is the budget fund available for investments this year, during January-June 2024, only 26.5 billion ALL or 19.6% of the amount available this year was released from the treasury.

Capital investment in the first half of this year was 14% lower than in the same period in 2023 and was also the lowest in the last 8 years (since 2016).

In the second 6 months of the year, the government has available to allocate 110 billion ALL, or more than 1 billion euros only in the item of public investments.

Sources in the Public Procurement Agency claimed that this sector is facing a crisis of human resources and an extreme fear of evading work on time. Employees are reluctant to sign tenders, which may later become the subject of investigations, charging them with responsibility.

But in this whole situation, the sustainable economic development of the country is being penalized.

The government is a major operator in the economy as it injects from the budget about 744 billion lek (7.2 billion euro 2024 budget), while capital expenditures are the largest item in the budget after pensioners' payments.

By not allocating the investment item in a harmonized way, the government has negatively affected the exchange rate. Throwing less money than was planned into the circulation through investments has had an even greater impact on the strengthening of the national currency alongside other forges.

In contrast to the non-realization of expenses, the budget is "floating" in surplus. The Ministry of Finance expected the budget surplus to reach 21.3 billion ALL in June this year, but the latest data show that the positive balance has reached a value of 51.4 billion ALL (500 million euros) or 141% more more than the budget plan.

The accumulation of the surplus, more than the increase in income, was helped by the non-realization of public investments according to the budget plan. This whole situation has helped the government to maintain a liquid account of 500 million euros.

Finance allocates about 20 percent of annual capital investment plan in 6-month,


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