External debt reaches 8.9 billion euros, with a growth of 8.6% in Q2, the highest rate since Q3 2011

The latest data from the Bank of Albania show that the gross external debt stock has reached a historical record of 8.9 billion euros during the second quarter of the year. Never before had gross external debt reached such a figure. The amount of 8.9 billion euros also marks a significant increase compared to the first quarter of the year, when gross external debt was fixed at almost 8.2 billion euros.

In percentage, the increase is fixed at 8.66%, which translates into the largest increase since the third quarter of 2011, when the increase was 9.4%. Even then, as today, the inflation of external debt culminated in a global economic crisis. Almost half of the debt, about 4.45 billion euros, is held by the general government, whose debt increased by 18.3% during the second quarter of the year, compared to the first quarter, when it was fixed at 3.76 billion euros. The increase in external debt will inevitably translate into an increase in public debt in relation to Gross Domestic Product, putting public finances under pressure.

SCAN

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