Liquidity Forecasting and Resource Management: Key Factors for Efficient Revenue and Expenditure Control
Liquidity Forecasting and Resource Management: Key Factors for Efficient Revenue and Expenditure Control

Author(s): Natasha Hoda, Hysen Hoda
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Business Economy / Management, Economic policy, Public Finances, Corruption - Transparency - Anti-Corruption
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: economic development; public finance; investments; transparency; management
Summary/Abstract: International bodies are encouraging Albania to continue financial sector and budget reform, address arrears, improve public investment and management of fiscal risks. This research paper will overview the challenges and the improvement of legislation of public finance in Albania, transparency and public involvement are essential for improving the country's financial situation. Financial analysis methods, revenue management, and compliance with ethical and legal standards are crucial for public organizations. However, financial management in public organizations faces unique challenges due to government operations' complexity, transparency, and limited resources. Budget transparency has increased, but challenges remain in the transparency of financial management of public organizations, especially local governments. The report also highlights the need for clearer and more transparent assessment of public investment projects and PPPs to improve the efficient use of public resources and reduce fiscal risks. Liquidity forecasting and resource management are also crucial for efficient revenue and expenditure control. To ensure sustainable economic development and financial stability, the Albanian government should develop a medium-term strategy for improving public finances, strengthen the management of public investments, improve liquidity forecasting and resource management, control arrears, improve budget transparency, increase the role of the Ministry of Finance reduce fiscal risks from PPPs, and conduct a detailed analysis of large contingent liabilities. These recommendations aim to address challenges and improve financial management in Albania, ultimately improving the country's financial stability and economic development.

• Details
• Contents