Albania’s foreign debt decreases with 71 million euros
Albania’s foreign debt declined by 71m euros in the third quarter of this year. According to data from the Bank of Albania, the total stock of liabilities of public and private sector in Albania to non-resident creditors was over 8 billion euros.
For the third quarter, especially the private sector has reduced exposure to external debt. Private entities’ liabilities fell to around 1.35 billion euros, from more than 1.4 billion euros at the end of second quarter moderate and focused especially on the Albanian government.
The banking and private sector did not need much external financing, even though the domestic market was generally quite liquid. Meanwhile, government and banking sector debt remained virtually unchanged during the third quarter.
However, it should be said that the public debt grew at the beginning of October, with the issuance of the 500 million euros Eurobond. This increase is expected to be reflected in the fourth quarter statistics. In recent years, the growth of the external debt of the Albanian economy has been high. The government holds 44% of total external debt, followed by the banking sector by 18% and the private non-banking sector by approximately 17%.