The Minister of Finance in the first press conference admits: Challenge, the issue of pensions

2024-09-04 11:24:15Biznes SHKRUAR NGA REDAKSIA VOX

The Minister of Finance in the first press conference admits: Challenge, the

The current average salary in the country is 710 euros, while in the administration it is 900 euros. These data according to the Minister of Finance Petrit Malaj, who appeared today at the first media conference in this position. According to him, the main contributor to the salary increase is the public sector with a 13% increase.

"We have a real salary increase of 10.8%. The main contributor to the salary increase is the public sector with a 13% increase, followed by the private sector with 9.7%. The salary increase in the public sector exerts a positive pressure on the private sector, which will have to follow it to be competitive in the market. The current average salary is 710 euros, while in the administration it is 900 euros".

According to Minister Malay, the level of public debt will reach 58.2% by 2024.

"We predict that we will reduce the debt level to 0.57 percent less compared to 2023. Based on the positive performance that the economy has had, we have created new fiscal spaces, which means more investments."

While the challenge for him is to address the issue of pensions, for which he promised that a solution will be determined within October, acknowledging in this way that the pension scheme and measure is incomparable at the level of the contributions given over the years or the prices that the market approaches.

"Improving economic stability, good administration of the state budget and public debt. The focus will also be on improving revenue collection to address the issue of pensions. It is an issue that affects us all. Within the month of October, we will have defined something about pensions and the entire pension scheme".

Malaj emphasized that the important indicator is foreign direct investments, which during the first quarter of this year have increased by 15.2%, compared to 2023.

"The important indicator is foreign direct investments, which at the end of 2023 mark a stock of 1.5 billion euros with an increase of over 8% in relation to the stock we had in 2022. For the first quarter of 2024 we have an increase in investments of direct loans by around 47 million euros or by 15.2%, compared to 2023".

There is also an increase in income in taxes and customs.

"Fiscal performance in taxes and customs, we have increased income by 11.4% or over 22 billion more. The tax administration has done a good job of collecting social security contributions. We have increased taxes".

He emphasized that capital investments are expected to reach 340 million euros more than the forecast.

"We plan that for 2024 capital investments by the government will be 340 million euros more than we predicted at the beginning of this year."


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