INSTAT says debt per capita has increased

Tirana Times
By Tirana Times September 4, 2019 08:38

INSTAT says debt per capita has increased

TIRANA, Sept. 3- Albanian debt per capita reached about 3150 euros in the middle of this year. According to data from the Ministry of Finance and the Albanian Institute of Statistics (INSTAT), the debt per capita calculated in European currency increased by 6 percent within a year.

In lek, the growth is significantly lower, by about 3 percent, due to the appreciation of the lek in the exchange rate with the euro. Although in real terms the public debt is on a downward trajectory, nominal per capita debt has continued to rise. This has happened in parallel with the increase in debt stock, but also with the decline in population.

According to INSTAT, during 2018 the population of Albania decreased by about 8 thousand inhabitants. The population contraction has been due to the expansion of net migration, but also due to the reduction of natural surplus. On June 30, Albania’s public debt was about 1.1 trillion lek or about 9 billion euros. In real terms, the Ministry of Finance estimates Albania’s public debt as 63 percent of GDP, down nearly two percentage points from a year earlier.

However, this is a figure destined to grow further during the year, with the expected expansion of the debt stock. Usually, most of the deficit is spent in the second half of the year and especially in the last quarter. This is further reflected in the performance of debt indicators. Based on the 2019 budget projections, public debt is expected to be around 64.9 percent at year-end.

 

Tirana Times
By Tirana Times September 4, 2019 08:38