Kosovo, with the lowest external debt in the Balkans. How is Albania ranked?

2024-09-25 12:36:51Biznes SHKRUAR NGA REDAKSIA VOX

Kosovo, with the lowest external debt in the Balkans. How is Albania ranked?

External public debt continues to grow significantly in the countries of the Western Balkans. Data for this year show a further increase in liabilities to external creditors.

External debt is the portion of a country's debt borrowed from foreign lenders, including commercial banks, governments or international financial institutions. TRT Balkan analyzed the figures of the Western Balkans for 2022, based on the official data of local institutions, Central Banks and Ministries of Finance.

In the entire region, the most critical situation appears in Montenegro and North Macedonia, in relation to the Gross Domestic Product. Montenegro's external debt is 68.4%, according to official data from Podgorica, exceeding the critical level of 60%, according to international standards. North Macedonia, on the other hand, is very close to this level, with external debt reaching 58.3% of GDP.

While Kosovo is the country with the lowest external debt in the region, according to data from the Ministry of Finance of Kosovo. With 580 million euros in external liabilities, Prishtina is the only one that does not even exceed 1 billion euros in external debts in the region, while this debt constitutes about 6.87% of the Gross Domestic Product. Bosnia and Herzegovina also has a fairly low level of external debt, at around 22.2% of their GDP.

As far as our country is concerned, Albania has external state debt that reaches 34.1% of GDP, while Serbia's external debt exceeds 20 billion euros, which is 34.5% of the Domestic Product.

The total debt of the countries of the Western Balkans is much higher than that, if the obligations to internal creditors are also included. For example, the total debt of Montenegro, as the most indebted country in the region, reaches 75% of the Gross Domestic Product.


Video