Public debt reduced after 6 years

27/10/2016 00:00

The public debt of Albania was reduced this year for the first time in
six years. Official data from the Ministry of Finances say that the debt
went down to 69.77% during the third trimester of this year, from
72.21% that it was by the end of the last year.

According to the Minister of Finances, the GDP reached 1.53 trillion ALL this year, from 1.44 trillion it was during the past year, and the reduced debt drop comes also as result of less loans.

Besides the nominal growth of the GDP, the debt trajectory is also determined by consolidating policies that the government has followed for the first three months of the year.

Although the Parliament has authorized the government to take 35.7 billion ALL of debts for 2016, the Ministry of Finances has not contracted any new loan until the end of September.

According to official data, the budget balance by the end of the first nine months had a surplus of 10.5 billion ALL due to lower spending than planned.

Both these factors have dropped the public debt with 2.44%, according to the Minister, for both the internal and foreign debts.

The government is expected to loan 36 billion ALL during the last months of the year, based on the budget plan authorized by the Parliament.

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