Foreign debt increased
12/12/2012 00:00
Linda Rama: Between Family, Work and Albania’s Future 18/08 14:30
The foreign debt has increased with 600 million EUR in the third
trimester of this year, compared to the same period of one year ago.
Official data from Bank of Albania show that Albania’s obligations to the other countries reached 6 billion EUR, from 4.4 that it was in 2011. This is only the foreign debt, and most of it comes from private banks and the private loaning sector.
According to the data, the foreign debt of the Albanian banks in September was 946 million EUR, most of which is short-termed, mostly taken by mother banks abroad.
Compared to the region, Albania remains still among the countries with the lowest debt. Experts say that this is one of the factors that protected our economy in a severe crisis. But now it has reached 50% of the GDP and rising. According to official data, Albania’s obligations to foreign countries increased with 1.3 billion EUR only in two years. Half of this money came from the increased foreign debt, which now has reached 2.2 billion EUR.
Top Channel
