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Democratic Party Deputy Chairman Jorida Tabaku said that the level of 80 percent of public debt is very high, but not real, because according to her, if the hidden debt of the Arbitration and also the PPPs that should be accounted as such real debt today is 92% of GDP.
She was a guest on the show RinOn, where she argued that the government’s justifications for the earthquake and pandemic are baseless alibis as governments have voted on precisely these situations. According to her, a debt of 1 billion euros was taken during the pandemic and only 120 million euros were given as aid to the economy, all reconstruction debts have been carried forward to the current year.
“The exact value of the debt, according to Tabaku, should be seen in the light of KLSH and IMF reports. KLSH reports that the bills of the Arbitration Court should have been calculated in Public Debt as the IMF says that PPP should have been calculated as well. Calculated all these go to 12% of GDP, increased debt 80.1% we go to 92% of GDP, said Ms. Tabaku.
The deputy chairman of the Democratic Party said that the issue of debt is a hot debate as it has been discussed very often in the Committee on Economy and Finance, since a few weeks ago EUROBOND received 700 million euros. The increased debt according to her and the way the government is taking it has turned the state budget into a big risk.
“For the first time in the last 20 years the debt exceeds the level of 80% of GDP and the real is at 92%. This is a red line because interest payments on debt have risen to around 100 million euros and while the debt is constantly being taken out to repay the debt“, She said.
Increased debt, according to Tabakut, should concern us both as experts and as politicians regarding public finances as it endangers our budget in the medium and long term.
She thinks the biggest risk to the economy is corrupt PPPs being paid off with increased debt.
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