Last update: Monday, April 15, 2019

Albania’s public debt and its structure for the period 2007-2017

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Open Data Albania is updating its data on Albania’s stock of public debt. The debt stock of a country is defined as the total outstanding public debt emitted within and outside the country. Public debt may be emitted within the country and held by residents (domestic debt), or outside the country and held by non-residents (external debt). The data are taken from the Ministry of Finances. 
Albania’s public debt reached 1 088 billion Albanian lekė (1.08 trillion) at the end of 2017, or 69.92% of the Gross Domestic Product (GDP). The public debt is almost doubled over the last decade. In 2007, the public debt was 517 billion Albanian lekė. Albania’s public debt is increased for the same period from 53.5% of the GDP in 2007 to 69.92% at the end of 2017. 
Source: Ministry of Finances
Comments and analysis by ODA


It is worth noting a change on the structure of the Albanian public debt over the years. The data are cumulative, i.e. the annual debt stock includes the total debts emitted up to the reporting time.
Source: Ministry of Finances
Comments and analysis by ODA

Structure of domestic and external public debt


Source: Ministry of Finances
Comments and analysis by ODA


The Domestic Public Debt Stock for 2017 was 577 billion Albanian lek or 2.8% more than in 2016, while the External Public Debt Stock was 510.2 billion Albanian lek. The external public debt has increased by 1.1 % compared to the previous year.
There is, however, a different trend observed in the domestic and external debt for the reporting period. The domestic debt-GDP-ratio in 2017 was 1.17 pp lower than in 2007. This means that the total increase of the public debt over the ten last years is mostly attributed to the external debt.


Source: Ministry of Finances
Comments and analysis by ODA


The external public debt has increased rapidly. Compared to 2007, the external debt stock has increased by 3.45 times in terms of its value, and doubled against the GDP, from 15.28 to 32.81 percent of the GDP. However, it was in 2015, that the external debt set a record in terms of its share of the gross domestic product, with this indicator becoming 34.38 percent as a result of Eurobond emissions, as well as a 700 million Euro-loan from the International Monitory Fund and the World Bank in the form of budget support.
However, both the domestic and external public debt started to reduce after 2015 following Government consolidating policies and commitments to stabilize the country’s public finances.





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