According to BoA, its decline reflects the effect of GDP growth.

In the classification according to maturity, long-term debt constitutes about 90.8% of the total, while short-term debt about 9.2%. Net external debt in relation to GDP is estimated at 4.7%, with a decrease of 5.3 percentage points.

In its analysis, the Bank of Albania estimates that the indicators of the long-term repayment ability of the external debt have continued to improve during the first half of 2023.

“The increase in exports and fiscal income has been the main factor in this progress,” the BoA sources say.
Thus, the gross external debt to the annual export of goods and services ratio is estimated at 115.1%, from the level of 136.8% a year ago.
Also, the ratio of external debt to fiscal revenue decreased to 183.0% from 213.9% a year ago. While the ratio of general government debt stock to fiscal revenue decreased to 91.7% from 105.2% a year ago.

The liquidity adequacy indicators also show improving trends.

The Bank of Albania states that the stock of foreign exchange reserves covers 333.8% of the short-term external debt at the end of the second quarter of 2023, proving its sufficiency in meeting short-term obligations.
/r.e/