Finance Minister admits public debt will reach EUR 6.5 billion

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Finance Minister Fatmir Besimi has indifferently revealed that public debt will historically exceed 60.5 per cent of gross domestic product (GDP), at a worrying rate of over 6.5 billion euros.

“Domestic borrowing of 250 million euros on a net basis is envisaged in the current budget without this review, more than we had at the beginning of the year, so far almost 200 million have been used,” Besimi said.

As he added, given that with this reviewthere will be 200 million euros increased budget deficit, the difference will be financed with 100 million euros of deposits and 100 with additional borrowing and those 50 million euros that were provided in advance.

Besimi stressed that an additional 150million euros in domestic borrowing by the end of the year and 100million euros from the budget account would be needed to cover the deficit.

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