Albanian government revises 2024 budget, increases revenue projections by 27 billion ALL

The Albanian government has undertaken a significant revision of the 2024 state budget, marking the second adjustment within the year. This revision reflects a notable increase in expected revenues, now projected to rise by 27 billion ALL. The additional funds were allocated to support farmers’ grants, healthcare, police compensation, athlete rewards, and water supply infrastructure.

Why is this relevant

The updated budget underscores the government’s proactive stance in addressing the immediate needs of critical sectors such as agriculture, healthcare, education, and internal affairs. For example, the increased investment in agriculture aligns with Albania’s long-term vision, “Agriculture 2030,” which seeks to position the country as a key player in the global market for high-quality agricultural products.

The revised budget allocates an additional 500 million ALL to the Ministry of Agriculture, aimed at expanding the grant scheme for farmers. This includes additional funding for farmers, livestock breeders, and fishermen, with the goal of enhancing the quantity and quality of “Made in Albania” products. Anila Denaj, Minister of Agriculture and Rural Development, announced that these budgetary changes are part of a broader commitment to strengthen the agricultural sector and expand the reach of Albanian products to international markets. By increasing financial support, the government aims to enable more farmers to access necessary resources, thereby boosting productivity and ensuring a stable food supply.

In addition to agriculture, the budget revision includes an increase of 1.3 billion ALL for the Ministry of Internal Affairs, specifically for compensating police officers through food allowances and overtime pay.

The healthcare sector also sees a boost, with an additional 200 million ALL allocated. Moreover, the Ministry of Education receives an extra 300 million ALL to reward athletes who have achieved outstanding results, promoting a culture of excellence in sports.

Finally, the largest share of the revised budget goes to water supply and sewerage services, with a 2 billion ALL increase, bringing the total budget for this sector to 14.6 billion ALL.