What will happen to the public debt in 2024? What are the risks?

It seems that the Government has left behind the concerns caused by the increase in debt risks during 2022, due to financial uncertainties in the international markets but also within the borders. The risk indicators have softened significantly in 2023 and are predicted to improve further during 2024, due to the strengthening of the lek but also public debt management strategies.

The Ministry of Finance, in an analysis of the progress of debt risks, states that "In contrast to 2022, where due to tight market conditions, the risk indicators did not fully move in the direction of strategic objectives, during 2023, the management of the risks of the debt portfolio has been able to evolve in the direction of the medium-term strategic objectives, showing improvement in all indicators, compared to the end of 2022".

Important indicators related to refinancing risks as well as interest rate risk are improving. According to the official data of the Ministry of Finance, the Debt that is refixed within 1 year has fallen to 46.8% during the year 2023 from 49.0% a year ago. Also, regarding the refinancing risk, the Debt that matures within 1 year results in 2023 at the level of 47.0% from 49.0% in 2022.

The Ministry of Finance itself has announced that after the end of the calendar year 2023, in accordance with the Medium-Term Debt Management Strategy, a monitoring report will be drawn up which will include, among other things, the progress of the risk indicators as well as the relevant circumstances that affected. Meanwhile, "during the year 2024, it will be aimed to further improve the risk indicators, according to the market conditions, ensuring the necessary financing and keeping the cost at the lowest possible level.

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