The Growth and Poverty Reduction Strategy' (GPRS) of the Government of Albania builds on the Interim Poverty Reduction Strategy Paper (I-PRSP) presented to the Boards of the International Development Association (IDA) and the International Monetary Fund (IMF) in June 2000. It represents the first effort by the Government of Albania to elaborate a comprehensive development strategy in collaboration with key stakeholders. The government chose the term GPRS to signal the strong emphasis placed on inclusive economic growth. The new government, headed by Prime Minister Majko-which took office in February 2002, following a period of internal divisions within the ruling Socialist Party and the resignation of former Prime Minister Meta-has reaffirmed its commitment to the GPRS. The medium-term poverty reduction objectives and priorities remain unchanged. However, recent changes in the near-term outlook necessitated revisions in the 2002 budget and the macroeconomic framework. These have been reflected in the May 2002 GPRS supplement.