How much internal debt does Albania have? - About 73% of it is in bonds. Banks, the main holders
Domestic debt has reached record levels over the past year. According to the Ministry of Finance's statistical bulletin, this stock is estimated to have reached 788 billion lek, a figure about 6.2% higher than in 2023.
Most of the debt is in long-term instruments. About 74% of it is in bonds and only 24% in short-term instruments, i.e. treasury bills. In terms of long-term instruments, 5-year bonds have the highest value of 136 billion lek, while 15-year bonds have the lowest weight in debt.
Regarding treasury bills, 12-month ones reach a figure of 192 billion lek, while domestic debt in 3-month bills turns out to be zero since 2023. Debt in bonds has increased by 13.5% compared to 2023, while that in short-term instruments has decreased by 9.6%.
Unlike in 2023, when this domestic public debt was 99% in lek and 1% in foreign currency, in 2004 all debt was in our national currency.
But who are the main holders of this debt?
Official statistics show that the majority of the government's domestic borrowing is from banks. Specifically, about 65% of the domestic public debt is held by the banking sector, 9.55% of which is held by bank customers, i.e. individuals or businesses that invest in government securities through banks.
Meanwhile, financial institutions, which can include pension funds, insurance companies and investment funds that buy government securities, have a weight of 13.86%. Individuals, the Bank of Albania and non-financial institutions hold a lower percentage of debt.
Also, the stock of domestic debt to Gross Domestic Product has increased slightly during 2024.
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