Kosovo’s public debt amounts to 650 million euros

Kosovo’s public debt amounts to 650 million euros

Pristina, 2 October 2015/Independent Balkan News Agency

By Elton Tota

During the first half of the year, Kosovo’s public debt has gone up by 17,1%. According to the data of the Central Bank of Kosovo, debt has reached a figure of 649,1 million euros as opposed to 55,4 million euros in the second quarter of 2014.

In terms of percentage, debt represents 11,2% of GDP as opposed to 10,3% of GDP in the previous year. Kosovo has the lowest debt compared to other countries of the region.

According to the Central Bank, in 2014, the average public debt rate in Southeastern European countries was around 57,3% of GDP, while Kosovo’s debt was 10,6% of GDP.

The recent report of the World Bank said that public debt in the country remains low, but it’s increasing rapidly.

Meanwhile, pursuant to the law on public debt, debt must in no case go over 50% of GDP.

In case general debt goes over 40% of GDP, then the government must send to parliament a strategy to bring back the debt to the 40% threshold. /ibna/