August 7 (SeeNews) - Kosovo's foreign debt-to-gross domestic product (GDP) ratio fell to 17.3% at the end of June, from 19.9% at the end of last year, finance minister Hekuran Murati said.
“First of all, this keeps interest costs under control – the lower the debt, the lower the interest - and secondly, it creates more favourable financing conditions for new borrowings, having proved stability and good spending of public money”, Murati said in a social media post on Sunday.
Murati did not provide figures of the value of public debt as at the end of June.
The debt-to-GDP ratio declined by 2.01 percentage points last year, from 21.9% at the end of 2021, the finance ministry said earlier. The value of public debt increased by 4.8% year-on-year in 2022, reaching 1.8 billion euro.