Kosovo's public debt has reached 1.1 billion euros

Public debt, according to the CEC, has reached 1.1 billion by the end of 2018.

“These revenues are not included in budget revenues from borrowing, revenues from privatisation, admissions from the donor's designated grants and admissions from trust deposits. The increase in budget revenues was due to increased economic activity, but reforms undertaken by income agencies aimed at narrowing the tax gap. As for the type of taxes, the higher growth of direct tax revenues reached 249.3m euros (11.8 percent) notes, while indirect tax revenues marked an increase of 2.9 percent and reached 1.2 billion euros. Non-tatial revenues marked growth of only 0.9 per cent and reached the value of 174.2m euros”, says the BQC report “Framework Economic Development Review”, broadcast public television.

Meanwhile, in terms of budget expenditures, according to the CEC, they reached the value of 1.66 billion euros, which represents an annual increase of 13.0 percent. During this period all budget expenditures categories were marked by growth.

“Government expenses for wages and wages marked an increase of 7.6 percent and reached a price of 540.0m euros. Government expenditures on goods and services (including municipal expenses) marked growth of 17.2 percent and reached the value of 203.7m euros. Subventions and transfers marked growth of 13.0 percent and reached the value of 499.6m euros. Capital investments, which represent around 25.5 per cent of total budget expenditures, marked growth of 18.6 per cent and reached 422.0m euros. Consequently, as a result of higher budget spending growth compared to revenues, Kosovo's budget registered the primary budget deficit of 57.2m euros compared to the 65.9m euros surplus in the same period in 2017, while as a percentage of BPV, the primary deficit was 0.8 per cent”, says the BQC report <x2.9m euros in Macedonia's annual Marocroke <3>, further.

The Central Bank of the Republic of Kosovo (BQK) has announced that public debt at the end of 2018 has reached 1.1 billion euros, which is for 9.7 percent higher than 2017.

“As a percentage of BPV, public debt has reached 17.1 percent from 16.2 percent in 2017. This public debt increase is attributed to an increase in domestic debt of 17.8 percent (which has reached 676.6m euros), while public external debt has scored 1.4 percent by reaching 416.1m euros. Public external debt share in a total of public debt has been reduced to 38.1 percent from 42.4 percent in 2017. Despite growth, this level of debt is still far from the 40 percent threshold seen by law. Furthermore, this level of public debt keeps Kosovo in the country's position with the lowest degree of public debt compared to the countries in the region, which according to the IMF, has an average public debt of 59.1 per cent”, the CEC's “Framework Development Review” concluded.