Kosovo owes over 1 billion euros

But despite the increase, this level of debt keeps Kosovo in the country's position with the lowest degree of public debt, compared to the countries of the region.

Lulzim Rafuna, adviser to the finance minister, has told Kosovo Preis that the debt has gradually increased for the past ten years.

“Kosovo has the smallest public debt, it is a debt which, if measured over ten years since the day of its declaration of independence to date, is a debt that has gradually increased, which catches the value of 998m euros, or returns to percentages grabs 15.6 %s of GDP, which is still a debt that is still low compared to the norm which Rafuna pres the law envisions, Rafuna said.

According to him, the law on public debt envisions that this debt could amount to 40 % of the local Bruto Product, while it says the debt is inherited from 2008.

He added that if managed well, there is no danger.

We inherited “Borgin in the early 2008-2009, after declaring independence and following World Bank membership. Since that period has started because we have inherited some debts from the World Bank, so it has gradually grown but is still very low.... Danger never has if managed properly as it is now managed. If a debt is obtained which is then invested and that debt or loan becomes economic development, it never poses a problem to manage“, Rafuna said.

Former finance minister, now the head of the LDK parliamentary group, Avdullah Hoti, has said how much was in government has changed the law so that no government can quickly enter public debt, which may be a burden to the state budget.

We've done what we've been in the Government to change the law and we've introduced that investment clause so that no government can enter the public debt quickly, which could be a burden to the state budget in the future. Normally with existing law we have a limit to 40, but with this investment clause we've limited it to the maximum of 30, % in the next 10 years or from 2 % every year to increase public debt. What remains to be worked in this direction in regulation, development, the best implementation of these economic stabilizers. Then we tried to decouple the public debt a little bit, said Hoti.

While, Buxhet and Financa Commission member Naser Osmani says Kosovo is counted as a country that does not owe much public. We're about 14 to 15 to 15 of Bruto Social Product, considered to be at the lower limits of public debt.

Kosovo is thankfully counted as the country that does not owe much public. We are about 14 to 15 of Bruto Social Product that is considered to be on the lower public debt limits. Many projects have been undertaken for capital investments, especially the latter for building several roads, for building plants, for clearing water, which was the last one with French and some projects that are necessary that we cannot cover with Kosovo's budget. But what is very important is key projects, larger road infrastructure projects are covered with tools from Kosovo budget”, he said.

Unlike Kosovo Central Bank data, at the end of 2009, the Public Debt Law has been adopted that enables the Government of Kosovo to enter credit obligations to finance its eventual budget deficit, and makes it possible to issue valuable letters. According to this law, Kosovo's public debt cannot exceed 40 per cent of GDP.