Economic Chambers demand from the Government the increase of the public debt, ‘Kosovo needs investments’

The business community and economic experts criticize the Government for reducing the public debt to 17.3 percent of the Gross Domestic Product (GDP).

Kosovo is turning out to be the smallest debtor in Europe and the region, but this trend is making the Minister of Finance, Labor and Transfers, Hekuran Murati, proud. According to him, the return of the loan of the period before the pandemic is due to the good management of public money.

The Central Bank of Kosovo considers that the level of public debt is far from the legal threshold of 40 percent of GDP, as well as far from the average of countries in the region, which is about 60 percent of GDP.

The President of the Kosovo Chamber of Commerce, Lulëzim Rafuna, said that the Government of Kosovo should not boast of the low level of debt.

He asked the executive to increase the level of loans for concrete projects that affect the economic development of the country and the rise of social well-being.

According to President Rafuna, Kosovo can borrow up to 60 percent of GDP.

The executive director of the Chamber of Trade and Industry Kosova (CTIK), Zana Beqiri, considers that the drop in public debt below 20 percent is harmful for the country.

According to her, this shows a lack of investments in the country.

Beqiri adds that this is considered as a negative phenomenon even by foreign investors, since, as she says, interest in investing decreases.

The professor of economics, Muhamet Sadiku, also says that this public debt is very low.

According to him, Kosovo should also see the debt practices of countries in the region and beyond.

Days ago, the Minister of Finance, Hekuran Murati, claimed that Kosovo has become the country with the lowest level of state debt in Europe.

On the other hand, the level of debts in some countries of the European Union has reached almost 200 percent.

Greece ranks first with a public debt of around 170 percent of GDP for 2022, Italy around 150 percent and Germany around 70 percent. Meanwhile, Albania also has a large debt, around 70 percent of GDP.