Finance Ministry denies media claims about restricted financial leverage

TIRANA, Oct. 25 – The Ministry of Finance released a press statement in order to dissipate unjustified concerns raised by the media related to the debt that the Albanian government can sustain. Recently some of the electronic media have reported that this debt can amount only up to 70 million. Publishing economic data form 2006 and from the projected budget of 2007 the Finance Ministry strongly denies these claims. The government can obtain two kinds of debt: soft low-interest loans and commercial loans. For 2006, the government obtained soft loans in the amount of 175 million Euro, out of which the contract with the Italian bank ArtigianCassa is the largest one signed on October 4, with a value of 95 million Euro. For 2007 the projected financial debt is 260 million.