“3-year plan for reducing cash” - Ibrahimaj: Fight against the informal economy, improvement of the investment climate
During a press conference, the Minister of Economy and Innovation, Delina Ibrahimaj, presented the latest overview of Albania's economic growth and the main directions of new policies.
According to Ibrahimaj, the Government will implement a 3-year plan to reduce cash in the economy, as part of the fight against informality and improving the investment climate.
"Regarding money outside the banking system and reducing informality, we will have an aggressive plan of measures to reduce cash in the economy. It is a 3-year plan prepared by the government that will be approved in cooperation with market actors, the Bank of Albania, the banking sector and all those actors that are part of and can contribute to the reduction of cash in the economy. This plan includes a series of measures that will be implemented over the next three years with the aim of combating the informal economy, increasing the competitiveness of businesses and improving the investment climate in the country. Reducing cash is an important step towards the formalization of the economy and the fight against corruption and money laundering. Albania's removal from the MONEYVAL grey list two years ago was an achievement, but now we need a more structured and long-term approach to guarantee investor confidence and reduce financial costs for businesses operating in international markets. Albania has also become part of the SEPA system, which is expected to bring further reductions in financial transaction costs," he said . Ibrahimaj.
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