After 600 million euros in June of this year, Albania can receive a new eurobond next year. Going to foreign markets to obtain an amount that is previously estimated at less than 300 million euros is foreseen in the draft budget for 2024.
"We did not expect to receive a new debt in the foreign market as the conditions are not the best. This at a time when the government is trying to entice citizens to invest in securities," said Eduart Gjokutaj, an expert on the economy.
The receipt of a new Eurobond comes at a time when the Ministry of Finance and Economy predicts that the public debt will decrease to 61.5 percent of the Gross Domestic Product this year and 59.8 percent at the end of 2024.
On the other hand, interest rates in foreign markets are not the most profitable possible.
"It's been a while since the European Central Bank has raised interest rates, and going into foreign markets consequently increases debt costs as a result of high rates." , said Eduart Gjokutaj, an expert on the economy.
But what is forcing the government to go to foreign markets for debt, at a time when the conditions are not at all favorable?
"I would say that debt service is not the main reason. I believe it is more related to unpaid bills or planned investments, not yet realized." , said Eduart Gjokutaj, an expert on the economy.
This would be the seventh time since 2010 that the country goes to foreign markets to borrow. So far, the value of Eurobonds is 3.15 billion euros.
The data from "finance" show that currently in the state debt portfolio there are 4 Eurobonds in the total value of 2.4 billion euros or about 255 billion ALL. (A2 Televizion)
