About $ 2 billion debts in a year – Earthquake and pandemic effects, World Bank analyzes Albania’s debt
The latest data from the World Bank in the report on debt statistics 2020 show that Albania’s public finances before the earthquake and pandemic were in significant improvement. Although the statistics do not cover the current year, where as a result of two severe crises, public debt is estimated to have increased by about 13 percentage points relative to Gross Domestic Product, they reflect the impact of these two crises on our finances and economy.
In 2019 the external debt has been decreasing compared to the previous one. According to the World Bank, in 2019, Albania’s total external debt stock is estimated at 9.6 billion dollars, from about 9.8 billion in 2018. With a simple projection, with public debt projected to go to about 81.3% of Production Gross Domestic Debt this year, in 2020 and 2021, the total external debt to go to about 11.5 billion dollars, ie increasing by about 2 billion dollars as a result of the pandemic and the earthquake, while public debt will rise to about 12.4 billion dollars from about 10.4 that was at the end of 2019, based on World Bank projections.
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