Public debt in Albania, at the end of 2024, decreased to 54,73 percent of Gross Domestic Product, from 55,8 percent, which was the forecast.

The decline in public debt to 54,73% of GDP also marks the lowest level since 2008, when debt was 54,8% of GDP.

Official data from the Ministry of Finance's statistical bulletin show a decrease of 17,94 points since 2015, when public debt reached its highest level, 72,67% of GDP, writes ATSh.

Albania had a public debt of 72% even in 1999, two years after the country experienced the financial collapse caused by pyramid schemes.

Since then, the debt has been in constant decline from year to year until 2008, the year in which the debt increased for the first time in ten years.

In 2015, it reached 72,67% of GDP, when the new government led by the Socialist Party came to power and included in official statistics arrears for public works completed but unpaid.

After this moment, public debt returned to its downward trajectory.

The Ministry of Finance says that progress in reducing the level of public debt has come thanks to careful fiscal management.

This prudent fiscal management, combined with macroeconomic stability and structural reforms, says the Ministry of Finance, has also strengthened credibility in international markets.

The prestigious credit rating agencies, Standard & Poor's and Moody's, have improved their ratings for Albania, confirming the stability of the Albanian market.

In April 2024, S&P raised Albania's rating from "B+" to "BB-" and most recently, in October 2024, Moody's also raised the rating from "B1, positive" to "Ba3, stable".