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External debt, above the level of 10 billion euros. Who brought about its expansion?

2023-12-23 12:25:21Biznes SHKRUAR NGA REDAKSIA VOX

External debt, above the level of 10 billion euros. Who brought about its

The external debt has increased significantly this year, even though measured in relation to the Gross Domestic Product, it results in a decrease. According to data published by the Bank of Albania, the stock of Albania's gross external debt reached 10,182.6 million euros at the end of the first half of 2023, with an increase of about 3.2%. The expansion is mainly from the Eurobond issue of 600 million euros in June of this year.

However, the debt is estimated at 52.4% of GDP at the end of the first half of 2023. This ratio is about 7.9 percentage points lower compared to the previous year. Its decline reflects the effect of nominal GDP growth. In the division according to maturity, long-term debt constitutes about 90.8% of the total, while short-term debt about 9.2%. Net external debt in relation to GDP is estimated at 4.7%, with a decrease of 5.3 percentage points.

At the end of the first half of 2023, 90.8% of foreign debt is estimated to be long-term debt (including FDI-intercompany loans) mainly in the form of loans. Short-term debt is estimated at around 9.2% of the total, taken mainly in the form of currencies and deposits from the depository corporate sector (excluding the central bank).

In the division according to the instruments used, the largest share of the total external debt stock is occupied by investments in the form of loans, currency deposits and commercial credits6, with about 65.1% of the total (34.0% of the nominal GDP). This ratio is 4.0 percentage points lower compared to the previous year. Within this voice, the main weight is occupied by loans.


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