Finance Ministry claims public debt level will be lowered by 2.1% of GDP by the end of the year and the trend will continue this way until reaching 59.6% of GDP by 2020. Government says this will be achieved by two main actions: a restrictive budget politic and improvement of economic environment.
The Albanian government’s debt is on historic low levels, only 2% of GDP and it seems it will continue this way for the years to come until reaching 0.6% of DGP in 2020. A rapid economic growth will help achieve the goal which is expected to jump to 4% next year.
Public debt increased by 20% of DGP in 8 years from 2007 to 2015 seriously putting in danger the financial stability of the country. The rapid decrease of this figure was a urgent requirement from IMF and World Bank.
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