Government gross debt in Albania

Albania's government debt is the total of the liabilities owed by general government to its creditors. It is reported in absolute terms and, above all, as a percentage of GDP to gauge sustainability.

Compiled by summing public sector liabilities (debt securities, loans and deposits), consolidated across subsectors, from Albania's Ministry of Finance figures. Comparable series are usually taken from the IMF. The debt-to-GDP ratio relates the stock to the size of the economy.

A high or rising debt level bears on the sustainability of the public finances and the government's funding cost, all the more in a small economy with part of the debt in foreign currency. It is closely watched by the IMF, markets and rating agencies.

It is a low-frequency figure revised with the national accounts. The ratio depends on both the debt stock and nominal GDP, so it can move without any change in borrowing; currency exposure and public guarantees add risk that the headline may not show.