Albania: Gov guaranties 200MEUR loans for Power company KESH and TSO co projects

, SEE Energy News

Financial problems of the energy sector is considered as a negative factor that has greatly burdened the state budget in 2013, affecting the economy as a whole.

Referring to the actual budget, the problems of this sector have significantly increased the level of public debt. The state budget is supposed to provide guarantees for loans for Albanian Power Corporation and the Transmission
System Operator, where debt is estimated to be in 2013 almost 200 million euros.

Referring to the draft submitted to Parliament, 131 million euros were borrowed for the Albanian Power Corporation projects and 69 million euros for the Transmission System Operator.

In the draft detailing the public debt, also evidenced the fact that a problem is that appears problematic Energy Corporation in settlement of obligations to the Ministry of Finance Due to heavy financial situation and lack of liquidity, the company does not pay obligations to the Ministry of Finance starting from 6 second quarter of 2011 onwards.

The terms of the debt on the whole, the draft says that in late December 2013, the Central Government public debt is estimated to be 65.15% of GDP. In this does not include the stock of arrears to companies that lead the stock of public debt at 70.49 percent.

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