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The detailed analysis talks about their reduction, we hope that the Government will clarify the reasons in time, so as not to remain in the allusion of "inability" to enter more standard tenders.
Open Data Albania has clarified the data on consolidated public investments for the period 2018 - 2023. The analysis does not include capital investments for the Reconstruction Fund or Investments from Higher Education revenues, but only expenditures for Public Investment Projects with Financing of Domestic and Foreign.
In six years, Public Investments have increased by 31.3%. From ALL 77.8 billion in 2018, budget capital investments have reached ALL 102.1 billion in 2023. While investments with domestic financing have increased by 71.6% from ALL 51.6 to 88.5 billion, investments with foreign financing result in a decrease. In 2023, 13.6 billion ALL capital expenditures were realized with foreign investment, minus 48.2% (or 12.6 billion ALL) less than in 2018 and 27.2% less than the previous fiscal year.
On the other hand, during the year 2023, the realization of Investments with Foreign Financing in relation to the initial annual plan is only 29.8% realization of capital investments with foreign financing. This shows poor quality budget management, or the line ministries have presented an inflated plan for projects with foreign funding, or the procedures applied to these projects have not been taken into consideration, leading to significant delays, therefore, their non-realization.
Government intervention with Normative Acts has continuously reduced investments with foreign financing and increased domestic investments. Concretely, in the last two years 2022 and 2023, foreign financing expenses have been replanned respectively with 12.4 and 20.3 billion lek less than the initial plan in the budget law.
Expenditures for capital investments have not been fully realized in any budget year. In these six years, the average level of realization of public investments is 91%. More problematic are the investments with foreign financing, an average of 78.5%, while those with internal financing show an average annual realization for the examined period of about 96%.
As it seems, financing with Foreign Investments is more difficult to tender. Donors or financiers require the implementation of strict rules, monitored competition and often tender directly without leaving room for directors appointed by the Government. Does this remain a reason that has led to the lowest levels of the values of projects with foreign financing? The detailed analysis talks about their reduction, we hope the Government will clarify the reasons in time, so as not to remain in the allusion of "inability" to enter more standard tenders./ VoxNews
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