According to the data of the Central Bank (CBCG), no additional borrowing is required for budget financing, but the institution could not specify whether it will be needed by the end of the year.
The CBCG warned that any future borrowing will be less favorable than the previous ones, and that future borrowing conditions may be further worsened by high current consumption.
The supreme monetary institution said that in case of indebtedness, the Government should carefully analyze the conditions on the domestic and international market and carefully select a credible creditor, with the aim of an optimal solution for indebtedness.
“In the coming period, it is necessary to conduct a prudent policy of managing public debt and public finances, so that the country does not expose itself to the materialization of fiscal risk and the crisis of public finances.” “Instability on the global market, high inflation and many other factors will negatively affect future borrowing conditions, which can be further aggravated by high current consumption,” the CBCG said.
They believe that it is to be expected that any future debt will be less favorable than the previous ones, which is confirmed by the debt in March. In support of that, as they added, is the increase in global interest rates, the unstable economic and financial situation, as well as the still high inflation.
The supreme monetary institution reminded that a large amount of debt is due to be repaid in the coming years, especially in 2025 – EUR 1.15 billion.
“CBCG suggests to start with finding the means to repay those debts, as well as possible early repayment of the debts to come. Bearing in mind the world economic situation, such an amount will not be easy to find in one year,” said the supreme monetary authority.
