Identifier
Created
Classification
Origin
09TIRANA409
2009-06-23 11:59:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Tirana
Cable title:
ALBANIA'S CAUTIOUSLY OPTIMISTIC BUDGET PICTURE
how-toVZCZCXRO6723 OO RUEHAG RUEHAST RUEHDA RUEHDBU RUEHDF RUEHFL RUEHIK RUEHKW RUEHLA RUEHLN RUEHLZ RUEHNP RUEHPOD RUEHROV RUEHSK RUEHSL RUEHSR RUEHVK RUEHYG DE RUEHTI #0409 1741159 ZNR UUUUU ZZH O 231159Z JUN 09 FM AMEMBASSY TIRANA TO RUEHC/SECSTATE WASHDC IMMEDIATE 8235 INFO RUEHZL/EUROPEAN POLITICAL COLLECTIVE PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY RUEAIIA/CIA WASHDC PRIORITY RUEHVEN/USMISSION USOSCE PRIORITY 2510 RHEFDIA/DIA WASHINGTON DC PRIORITY RUCNDT/USMISSION USUN NEW YORK PRIORITY 0828 RHEHAAA/NATIONAL SECURITY COUNCIL WASHINGTON DC PRIORITY RUEKJCS/SECDEF WASHINGTON DC PRIORITY
UNCLAS TIRANA 000409
SIPDIS
SENSITIVE
DEPT FOR EUR/SCE J.ISMAIL
TREASURY FOR V.ATUKORALA
E.O. 12958:N/A
TAGS: EFIN ECON PGOV AL
SUBJECT: ALBANIA'S CAUTIOUSLY OPTIMISTIC BUDGET PICTURE
Ref: TIRANA 408
UNCLAS TIRANA 000409
SIPDIS
SENSITIVE
DEPT FOR EUR/SCE J.ISMAIL
TREASURY FOR V.ATUKORALA
E.O. 12958:N/A
TAGS: EFIN ECON PGOV AL
SUBJECT: ALBANIA'S CAUTIOUSLY OPTIMISTIC BUDGET PICTURE
Ref: TIRANA 408
1. (SBU) While both government revenues and remittances from
Albanians working abroad continue to drop, there are signs the rate
of decline is slowing. According to the Central Bank, tax and
customs revenues for the first five months of 2009 were at 94
percent of plan. However, revenue collections since April seem to
have stabilized according to Ministry of Finance sources. Also,
although first quarter 2009 remittances were down eight percent from
2008 to 196 million euro, the drop was considerably less than the 15
percent decline from 2007 to 2008, which happened mostly in the
second half of 2008. Western Union, the country's largest conduit
for remittances, has seen a slight pickup in remittances during the
last three months after nine months of declines (reftel).
2. (SBU) On the expense side, the General Manager of Bechtel's
Durres-Kukes road project told econoff that Bechtel's billings, the
GOA's largest single monthly expenditure, will begin tapering off
after this summer as the highway project nears completion. Finally,
election-related spending, including a flurry of highway
construction activity, should come to an abrupt end by mid-summer.
WITHERS
SIPDIS
SENSITIVE
DEPT FOR EUR/SCE J.ISMAIL
TREASURY FOR V.ATUKORALA
E.O. 12958:N/A
TAGS: EFIN ECON PGOV AL
SUBJECT: ALBANIA'S CAUTIOUSLY OPTIMISTIC BUDGET PICTURE
Ref: TIRANA 408
1. (SBU) While both government revenues and remittances from
Albanians working abroad continue to drop, there are signs the rate
of decline is slowing. According to the Central Bank, tax and
customs revenues for the first five months of 2009 were at 94
percent of plan. However, revenue collections since April seem to
have stabilized according to Ministry of Finance sources. Also,
although first quarter 2009 remittances were down eight percent from
2008 to 196 million euro, the drop was considerably less than the 15
percent decline from 2007 to 2008, which happened mostly in the
second half of 2008. Western Union, the country's largest conduit
for remittances, has seen a slight pickup in remittances during the
last three months after nine months of declines (reftel).
2. (SBU) On the expense side, the General Manager of Bechtel's
Durres-Kukes road project told econoff that Bechtel's billings, the
GOA's largest single monthly expenditure, will begin tapering off
after this summer as the highway project nears completion. Finally,
election-related spending, including a flurry of highway
construction activity, should come to an abrupt end by mid-summer.
WITHERS