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Does the external debt actually decrease? Compared to the next quarter, yes, but it remains over 10 billion euros

2023-12-13 12:43:29Biznes SHKRUAR NGA REDAKSIA VOX

Does the external debt actually decrease? Compared to the next quarter, yes, but

After a strong increase in the second quarter, the external debt of the Government has decreased in the third, however, remaining above the level of 10 billion euros. The figures just reported by the Bank of Albania show that the Gross Foreign Debt Stock is 10,143 million euros at the end of the third quarter of the year, from 10,195 million in the second.

It should be underlined that the strong increase in external debt during the second quarter is largely due to the Eurobond of 600 million euros issued by the Government in June of this year. However, the growth is strong compared to the same quarter of the previous year, when the gross external debt was 9,893 million euros, or 2.5% lower.

It seems that the main reason for this decrease is the large repayments for this quarter. Net borrowing in the foreign market resulted in a negative result of ALL 6.6 billion in the third quarter, as a result of principal repayments on foreign debt to a higher extent than disbursements of funds from abroad. However, the government's liquidity surplus remains at a high level, as a result of the Eurobond issued in the second quarter of this year, as well as the slow growth of expenses against the faster growth of budget revenues.

However, first in total, after a slight decrease in 2022, Albania's public debt has marked a drastic increase during the nine months of this year in the amount of 1.39 trillion ALL, or more than 13 billion euros. For the first time, the public debt in 2023 has exceeded the level of 13 billion euros, increasing by a full 1 billion euros in the span of nine months.

Compared to 2020, when the total government loan was slightly less than 9.9 billion euros, the public debt has increased by a full 3 billion euros.

 


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