From: Exit Staff
Albanian Government Set to Borrow EUR 500 Million in 2021

The Albanian government will borrow EUR 500 million in 2021, of which EUR 400 million will be borrowed from the domestic market and EUR 100 million from the foreign market.

This debt will be used to finance public investments and to repay interest on old debt.

The news was given by the Minister of Finance Anila Denaj during the presentation of the draft budget 2021, in the Committee on Economy in the Assembly, on Monday.

Denaj said that the government will receive a total of “63.5 billion ALL debt” of which “49.9 billion ALL in the domestic market” and “13.6 billion ALL in the foreign market.”

“Despite the high level of borrowing in the domestic market, we can say that it is liquid and interest rates have not increased, this is a good strategy to manage this situation,” the minister added.

The Rama government has borrowed EUR 3.2 billion from 2014 until today.

Together with the public debt accumulated until 2013, the total public debt today amounts to about 1.3 billion ALL or about EUR 10.2 billion, equivalent to 86% of the GDP.

To read more about Albania’s public debt, click here.