Average interest rate of Albania's domestic public debt reaches record low
Xinhua, March 26, 2016 Adjust font size:
The average interest rate of Albania's domestic public debt fell to a record low of 5.31 percent at the end of 2015, financial authorities said Friday.
The rate has been decreasing continuously since 2009 when it peaked at 8.95 percent, the finance ministry added.
It attributed the decline of the debt interest to an eased monetary policy, high liquidity in the banking system, and the government's decision to reduce domestic borrowing.
The decline is said to favor the Albanian government's longtime effort to extend the average maturity of public debt.
The average maturity of the Albanian government's debt securities amounted to about 700 days, up from about 360 days at the end of 2012.
According to the ministry, at the end of 2015, public debt amounted to 1.043 trillion lek (8.345 million U.S. dollars), or 72.20 percent of the country's gross domestic product. Endi