Budget and transportation, the most financed with foreign debt - What were the other sectors of the economy that were most supported in 2024?
The government budget was the one that was most supported by foreign debt during 2024. According to the Ministry of Finance's statistical bulletin, a good part of the external debt or 127 million euros was dedicated to supporting the budget. In total, about 268 million euros of foreign debt were used to support 10 sectors of the economy.
But, what were the other sectors that benefited from financing through foreign debt?
The Ministry of Finance data shows that transport and energy are the other two sectors that have needed financing from foreign debt. Specifically, financing for energy is estimated at 20 million euros, while financing for transport is estimated at 53 million euros. Also, 19 million and 20 million euros are the expenses, or investments, in urban and rural infrastructure, as well as water supply/sewage.
On the other hand, the least funded sectors were education, rural development, supply and trade. Despite being slightly supported by external debt, compared to last year, the rural development sector benefits for the first time since 2019.
Meanwhile, defense, state administration, balance of payments, agriculture and irrigation, light industry, import of goods and equipment, environmental protection, forests, social security/labor market, housing, telecommunications, air transport, private sector development, and others, are sectors that are historically not supported by external debt.
Official statistics show that total debt, including public and external, has reached historic lows. Specifically, total debt accounts for about 54% of the country's Gross Domestic Product, 2.7 points lower than the previous year. In 2024, foreign debt was estimated at 23.2% of GDP, while public debt was 54.7% of Gross Domestic Product.
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