{"id":22878,"date":"2020-06-17T12:56:45","date_gmt":"2020-06-17T10:56:45","guid":{"rendered":"http:\/\/redaktori.com\/?p=22878"},"modified":"2020-06-17T12:56:45","modified_gmt":"2020-06-17T10:56:45","slug":"shqiperia-po-i-afrohet-shifres-prej-82-85-te-borxhit-te-saj-publik-ne-raport-me-pbb-ne","status":"publish","type":"post","link":"https:\/\/redaktori.com\/?p=22878","title":{"rendered":"Shqip\u00ebria po i afrohet shifr\u00ebs prej 82-85% t\u00eb borxhit t\u00eb saj publik n\u00eb raport me PBB-n\u00eb"},"content":{"rendered":"

Nga Adrian Civici<\/strong><\/em><\/p>\n

Domosdoshm\u00ebria e p\u00ebrdorimit eficent t\u00eb borxhit publik<\/strong><\/p>\n

Marrja e nj\u00eb borxhi t\u00eb ri p\u00ebr shlyer nj\u00eb borxh t\u00eb vjet\u00ebr shihet bardh e zi nga dy kampet politike n\u00eb vend, por ekspert\u00ebt e ekonomis\u00eb e \u00e7mojn\u00eb at\u00eb si nj\u00eb \u201czgjidhje\u201d t\u00eb zgjuar dhe rekomandojn\u00eb p\u00ebrdorimin e k\u00ebtyre parave n\u00eb m\u00ebnyr\u00eb sa m\u00eb eficente. Edhe pse konsiderohet si \u201cbarr\u00eb\u201d e r\u00ebnd\u00eb p\u00ebr brenzat q\u00eb do t\u00eb vijn\u00eb, eurobondi \u00ebsht\u00eb e vetmja m\u00ebnyr\u00eb p\u00ebr t\u2019ia dal\u00eb mban\u00eb n\u00eb nj\u00eb koh\u00eb q\u00eb ekonomia shqiptare \u00ebsht\u00eb goditur fort dy her\u00eb brenda pak muajve.<\/p>\n

Pasojat e t\u00ebrmetit t\u00eb 26 n\u00ebntorit dhe pandemia COVID-19, kan\u00eb kthyer n\u00eb regres ekonomin\u00eb, e cila k\u00ebrkon mb\u00ebshtetje p\u00ebr t\u2019u kthyer n\u00eb kahun pozitiv. Ekspert\u00ebt e ekonomis\u00eb e shikojn\u00eb marrjen e eurobondit prej 650 milion\u00eb eurosh si shtys\u00eb p\u00ebr ekonomin\u00eb dhe si \u201cvler\u00ebsim\u201d me nota besimi p\u00ebr vendin.<\/p>\n

Sipas ekspertit Adrian Civici, deri n\u00eb fund t\u00eb marsit 2020, borxhi publik i Shqip\u00ebris\u00eb kishte arritur n\u00eb rreth 3200 euro p\u00ebr frym\u00eb. Nd\u00ebrsa, me \u201cshtesat\u201d e reja prej gati 1 miliard euro, pa llogaritur k\u00ebtu vijimin e marrjes borxh t\u00eb shum\u00ebs prej 1,15 miliard\u00eb euro t\u00eb premtuara p\u00ebr rind\u00ebrtimin dhe pasojat e t\u00ebrmetit t\u00eb 26 n\u00ebndorit t\u00eb vitit t\u00eb kaluar, borxhi p\u00ebr frym\u00eb pritet ta kaloj\u00eb shum\u00ebn prej 3500 \u2013 3600 eurosh. Qeveria ka parashikuar q\u00eb borxhi prej 650 milion\u00eb eurosh do t\u00eb p\u00ebrdoret p\u00ebr t\u00eb shlyer nj\u00eb detyrim parardh\u00ebs n\u00eb vler\u00ebn 250 milion\u00eb dhe 400 milion\u00eb p\u00ebr Rim\u00ebk\u00ebmbjen.<\/p>\n

N\u00eb nj\u00eb intervist\u00eb p\u00ebr gazet\u00ebn \u201cFjala\u201d, eksperti i ekonomis\u00eb, Adrian Civici, pohon se pasojat e r\u00ebnda t\u00eb t\u00ebrmetit t\u00eb 26 n\u00ebndorit t\u00eb vitit t\u00eb kaluar dhe efektet tejet negative n\u00eb ekonomi dhe financat publike t\u00eb kriz\u00ebs s\u00eb pandemis\u00eb s\u00eb COVID-19, e b\u00ebn\u00eb thuajse t\u00eb pamundur p\u00ebrballimin e nevojave buxhetore dhe projekteve t\u00eb rind\u00ebrtimit pa shfryt\u00ebzuar instrumentin e borxhit publik.<\/p>\n

Sipas Civicit, k\u00ebrkesa e lart\u00eb p\u00ebr t\u00eb bler\u00eb eurobondin shqiptar dhe interesi relativisht i ul\u00ebt me t\u00eb cilin ai u sigurua, tregojn\u00eb se besueshm\u00ebria e qeveris\u00eb shqiptare dhe q\u00ebndrueshm\u00ebris\u00eb financiare e fiskale t\u00eb vendit nuk \u00ebsht\u00eb r\u00ebnduar apo gjykuar \u201cm\u00eb negative\u201d, pavar\u00ebsisht kriz\u00ebs ekonomiko-financiare dhe r\u00ebnies s\u00eb pritshme t\u00eb t\u00eb ardhurave buxhetore.<\/p>\n

Nd\u00ebrsa n\u00eb lidhje me rrezikun q\u00eb mund t\u2019i kanoset ekonomis\u00eb p\u00ebr shkak t\u00eb rritjes s\u00eb borxhit publik, Civici shprehet se \u201cn\u00eb monetin aktual, Shqip\u00ebria po i afrohet shifr\u00ebs prej 82-85% t\u00eb borxhit t\u00eb saj publik n\u00eb raport me PBB-n\u00eb, shif\u00ebr mjaft e lart\u00eb p\u00ebr \u201cshpatullat\u201d e ekonomis\u00eb shqiptare, nd\u00ebrkoh\u00eb, q\u00eb n\u00eb kushte normale, borxhi yn\u00eb publik duhet t\u00eb synonte nivelin prej 60% n\u00eb periudha afatmesme 4-5-vje\u00e7are, dhe nivelin n\u00ebn 50% n\u00eb periudha afatgjata 8-10-vjcecare. Menaxhimi i k\u00ebtij borxhi n\u00eb vitet n\u00eb vazhdim mbetet nj\u00eb nga sfidat m\u00eb t\u00eb m\u00ebdha e m\u00eb t\u00eb v\u00ebshtira t\u00eb qeverisjes n\u00eb 4 ose 8 vitet n\u00eb vazhdim\u201d.<\/p>\n

Eksperti i ekonomis\u00eb, Adrian Civici, analizon jo vet\u00ebm kostot q\u00eb do t\u00eb k\u00ebt\u00eb eurobondi p\u00ebr ekonomin\u00eb shqiptare, por edhe benefitet q\u00eb i vijn\u00eb vendit prej tij. P\u00ebrve\u00e7 besimit q\u00eb treguan tregjet ndaj ekonomis\u00eb shqiptare, v\u00ebnia n\u00eb dispozicion e nj\u00eb shume t\u00eb till\u00eb, n\u00eb nj\u00eb koh\u00eb pandemie globale, duhet vler\u00ebsuar. Nd\u00ebrsa n\u00eb lidhje me reagimet euforike t\u00eb p\u00ebrfaq\u00ebsuesve t\u00eb qeveris\u00eb p\u00ebr arrtjen e marr\u00ebveshjes p\u00ebr marrjen e borxhit, Civici shprehet se qeveria reagoi n\u00eb m\u00ebnyr\u00eb \u201centuziaste\u201d p\u00ebr termat e eurobondit, duke evidentuar dy elemente t\u00eb r\u00ebnd\u00ebsishme q\u00eb mund t\u00eb quhen \u201csukses\u201d: p\u00ebrqindjen e interesit t\u00eb eurobondit dhe vler\u00ebsimin nd\u00ebrkomb\u00ebtar q\u00eb iu b\u00eb Shqip\u00ebris\u00eb n\u00ebp\u00ebrmjet akordimit t\u00eb k\u00ebtij eurobondi, n\u00eb mas\u00ebn 650 milion\u00eb euro.<\/p>\n

Shqip\u00ebria mori n\u00eb tregun nd\u00ebrkomb\u00ebtar eurobondin e radh\u00ebs. Si e vler\u00ebsoni ju k\u00ebt\u00eb hap?<\/strong><\/p>\n

Eurobondi i radh\u00ebs, prej 650 milion\u00eb eurosh, n\u00eb fakt, ishte i planifikuar dhe lajm\u00ebruar disa jav\u00eb ose muaj m\u00eb par\u00eb. Megjithat\u00eb, duhet pranuar se pasojat e r\u00ebnda t\u00eb t\u00ebrmetit t\u00eb 26 n\u00ebndorit t\u00eb vitit t\u00eb kaluar dhe efektet tejet negative n\u00eb ekonomi dhe financat publike t\u00eb kriz\u00ebs s\u00eb pandemis\u00eb s\u00eb COVID-19, e b\u00ebn\u00eb thuajse t\u00eb pamundur p\u00ebrballimin e nevojave buxhetore dhe projekteve t\u00eb rind\u00ebrtimit pa shfryt\u00ebzuar instrumentin e borxhit publik. Aq m\u00eb tep\u00ebr, q\u00eb tashm\u00eb edhe n\u00eb debatet e sugjerimet nd\u00ebrkomb\u00ebtare \u201cp\u00ebr masat dhe politikat q\u00eb duhen nd\u00ebrmarr\u00eb n\u00eb kuad\u00ebr t\u00eb ringritjes ekonomike, financiare e sociale\u201d \u00ebsht\u00eb pranuar se rruga kryesore q\u00eb duhet ndjekur \u00ebsht\u00eb shtimi i borxhit publik dhe rritja e rolit t\u00eb shtetit si aktor ekonomik dhe zhvillues n\u00eb k\u00ebt\u00eb periudh\u00eb t\u00eb jasht\u00ebzakonshme. Rekomandimi i ish- presidentit t\u00eb BQE-s\u00eb, Mario Draghi, se \u201cSfida q\u00eb po p\u00ebrballojm\u00eb na k\u00ebrkon t\u00eb veprojm\u00eb me forc\u00eb dhe shpejt\u00ebsi p\u00ebr t\u00eb evituar mund\u00ebsin\u00eb q\u00eb recesioni t\u00eb transformohet n\u00eb nj\u00eb depresion afatgjat\u00eb, duke u thelluar akoma m\u00eb shum\u00eb nga nj\u00eb t\u00ebr\u00ebsi vlerash t\u00eb paracaktuara q\u00eb l\u00ebn\u00eb gjurm\u00eb t\u00eb pariparueshme. Tashm\u00eb \u00ebsht\u00eb e qart\u00eb se p\u00ebrgjigjja duhet t\u00eb p\u00ebrmbaj\u00eb nj\u00eb shtim dometh\u00ebn\u00ebs t\u00eb borxhit publik\u201d.<\/p>\n

N\u00eb k\u00ebto momente, pothujase t\u00eb gjitha vendet e bot\u00ebs, t\u00eb prekura r\u00ebnd\u00eb nga pandemia e koronavirusit, po e aplikojn\u00eb instrumentin e borxhit n\u00eb mb\u00ebshtetje t\u00eb buxheteve dhe masave e politikave t\u00eb tyre postkoronavirus. N\u00eb k\u00ebt\u00eb k\u00ebndv\u00ebshtrim, Shqip\u00ebria e kishte t\u00eb v\u00ebshtir\u00eb t\u00eb b\u00ebnte p\u00ebrjashtim, aq m\u00eb tep\u00ebr me situat\u00ebn e saj buxhetore e fiskale n\u00eb t\u00eb cil\u00ebn u gjend n\u00eb k\u00ebt\u00eb periudh\u00eb. Me shum\u00eb mund\u00ebsi, n\u00eb muajt n\u00eb vazhdim do t\u00eb jet\u00eb e nevojshme t\u00eb vazhdojm\u00eb t\u00eb marrim borxh, n\u00eb tregun e brendsh\u00ebm apo n\u00eb at\u00eb t\u00eb jasht\u00ebm, natyrisht n\u00eb p\u00ebrmasa m\u00eb t\u00eb vogla dhe m\u00eb t\u00eb shtrir\u00eb n\u00eb koh\u00eb sesa eurobondi. E r\u00ebnd\u00ebsishme n\u00eb k\u00ebto momente, apo n\u00eb vitet n\u00eb vazhdim, \u00ebsht\u00eb p\u00ebrdorimi efikas i tij n\u00eb funksion t\u00eb rritjes ekonomike t\u00eb lart\u00eb e t\u00eb q\u00ebndrueshme dhe uljes s\u00eb papun\u00ebsis\u00eb.<\/p>\n

N\u00eb vler\u00ebsimin tuaj, a jan\u00eb \u201cpreferencial\u00eb\u201d termat e eurobondit?<\/strong><\/p>\n

Qeveria reagoi n\u00eb m\u00ebnyr\u00eb \u201centuziaste\u201d p\u00ebr termat e eurobondit, duke evidentuar dy elemente t\u00eb r\u00ebnd\u00ebsishme q\u00eb mund t\u00eb quhen \u201csukses\u201d: p\u00ebrqindjen e interesit t\u00eb eurobondit dhe vler\u00ebsimin nd\u00ebrkomb\u00ebtar q\u00eb iu b\u00eb Shqip\u00ebris\u00eb n\u00ebp\u00ebrmjet akordimit t\u00eb k\u00ebtij eurobondi, n\u00eb mas\u00ebn 650 milion euro; nd\u00ebrsa opozita dhe z\u00ebrat kritik\u00eb evidentuan faktin se \u201cp\u00ebrqindja e interesit nuk ishte e favorshme, se n\u00eb k\u00ebto momente nuk \u00ebsht\u00eb v\u00ebshtir\u00eb t\u00eb marr\u00ebsh borxh, se tregjet monetare e financiare kan\u00eb likuiditet t\u00eb bollsh\u00ebm \u2026 nd\u00ebrsa p\u00ebrqindja e interesit nuk shprehte ndonj\u00eb lloj vler\u00ebsimi pozitiv p\u00ebr gjendjen ekonomike e financiare t\u00eb vendit\u201d.<\/p>\n

N\u00eb fakt, nuk besoj se n\u00eb k\u00ebt\u00eb rast vler\u00ebsimi mund t\u00eb jet\u00eb bardh e zi, ose vet\u00ebm \u201cshum\u00eb i mir\u00eb\u201d, ose vet\u00ebm \u201cshum\u00eb i keq\u201d. Nga vler\u00ebsimet paraprake t\u00eb bankave nd\u00ebrkomb\u00ebtare para p\u00ebrhapjes s\u00eb COVID-19 n\u00eb Evrop\u00eb dhe n\u00eb Shqip\u00ebri, pritshm\u00ebrit\u00eb dhe parashikimet ishin q\u00eb eurobondi i ri t\u00eb emetohej me nj\u00eb norm\u00eb interesi m\u00eb t\u00eb favorshme se ajo e emetimit pararend\u00ebs. Por, paralelisht \u201cme p\u00ebrhapjen e pandemis\u00eb, tregjet nd\u00ebrkomb\u00ebtare t\u00eb kapitalit u ndikuan nga situata q\u00eb reflektoi nj\u00eb nivel t\u00eb lart\u00eb luhatshm\u00ebrie dhe pasigurie n\u00eb normat e interesit, t\u00eb cilat \u00e7do dit\u00eb dhe jav\u00eb p\u00ebsojn\u00eb luhatje\u201d. Kjo b\u00ebri q\u00eb norma e interesit p\u00ebr eurobondin shqiptar t\u00eb rezultonte m\u00eb e lart\u00eb se shpresat e tre apo kat\u00ebr muajve m\u00eb par\u00eb.<\/p>\n

Megjithat\u00eb, mund t\u00eb pohohet se k\u00ebrkesa e lart\u00eb p\u00ebr t\u00eb bler\u00eb eurobondin shqiptar dhe interesi relativisht i ul\u00ebt me t\u00eb cilin ai u sigurua, tregojn\u00eb se besueshm\u00ebria e qeveris\u00eb shqiptare dhe q\u00ebndrueshm\u00ebris\u00eb financiare e fiskale t\u00eb vendit nuk \u00ebsht\u00eb r\u00ebnduar apo gjykuar \u201cm\u00eb negative\u201d, pavar\u00ebsisht kriz\u00ebs ekonomiko-financiare dhe r\u00ebnies s\u00eb pritshme t\u00eb t\u00eb ardhurave buxhetore. N\u00eb k\u00ebt\u00eb rast, sigurimi i valut\u00ebs jetike p\u00ebr ekonomin\u00eb ton\u00eb mund t\u00eb quhet si sukses, gjithmon\u00eb brenda problematik\u00ebs s\u00eb shtimit t\u00eb borxhit. Kjo \u00ebsht\u00eb hera e kat\u00ebrt q\u00eb vendi yn\u00eb u drejtohet tregjeve nd\u00ebrkomb\u00ebtare t\u00eb kapitalit me instrumentin e eurobondit. Eurobondi i par\u00eb \u00ebsht\u00eb emetuar n\u00eb vitin 2010 (me vler\u00eb 300 milion\u00eb euro, maturim 5-vje\u00e7ar dhe interes 7,5%) dhe \u00ebsht\u00eb shlyer n\u00eb vitin 2015. Eurobondet e m\u00ebpasshme, t\u00eb cilat jan\u00eb ende aktive, jan\u00eb eurobondi i emetuar n\u00eb vitin 2015, me maturim 5-vje\u00e7ar, n\u00eb vler\u00eb prej 450 milion\u00eb eurosh dhe me nj\u00eb norm\u00eb interesi 4,75%, eurobondi i emetuar n\u00eb vitin 2018, n\u00eb vler\u00ebn prej 500 milion\u00eb eurosh, me maturim 7-vje\u00e7ar dhe norm\u00eb interesi 3,5%.<\/p>\n

A del jasht\u00eb kontrollit borxhi publik pas marrjes s\u00eb 650 milion\u00eb eurove borxh?<\/strong><\/p>\n

Kontrolli i borxhit publik ose raportet e tij me Prodhimin e Brendsh\u00ebm Bruto jan\u00eb relative, n\u00eb kuptimin q\u00eb situatat dhe q\u00ebndrueshm\u00ebria ekonomike e fiskale e vendeve t\u00eb ndryshme n\u00eb raport me borxhin publik \u00ebsht\u00eb e ndryshme. Natyrisht q\u00eb ka disa limite ose \u201cvija t\u00eb kuqe\u201d, kalimi i t\u00eb cilave flet p\u00ebr situat\u00eb t\u00eb r\u00ebnd\u00eb q\u00eb mund t\u00eb ket\u00eb shum\u00eb v\u00ebshtir\u00ebsi t\u00eb menaxhohet, ose dhe t\u00eb dal\u00eb jasht\u00eb kontrollit. N\u00eb rregullat dhe standardet e BE-s\u00eb, si nivel maksimal borxhi \u00ebsht\u00eb p\u00ebrcaktuar niveli 60% i tij kundrejt PBB-s\u00eb \u2013 megjith\u00ebse mjaft vende an\u00ebtare e kan\u00eb tejkaluar me koh\u00eb k\u00ebt\u00eb limit, aq m\u00eb tep\u00ebr, q\u00eb n\u00eb k\u00ebt\u00eb periudh\u00eb krize t\u00eb pandemis\u00eb s\u00eb COVID-19, vet\u00eb BE-ja rekomandonte (ose nuk sanksiononte vendet q\u00eb e tejkalonin) q\u00eb vendet an\u00ebtare mund ta kalonin k\u00ebt\u00eb prag, deri sa t\u00eb stabilizohet situata ekonomike e financiare. Dhe n\u00eb fakt, shumica e masave speciale mb\u00ebshtet\u00ebse anti COVID-19 n\u00eb Evrop\u00eb bazohen n\u00eb instrumentin e rritjes s\u00eb borxheve publike.<\/p>\n

Nga ana tjet\u00ebr, frika ose paniku i daljes nga kontrolli t\u00eb borxhit publik \u00ebsht\u00eb i lidhur ngusht\u00eb dhe me fuqin\u00eb ekonomike, produktivitetin dhe pesh\u00ebn e eksporteve n\u00eb nj\u00eb ekonomi t\u00eb caktuar. P.sh., borxhi publik i Japonis\u00eb \u00ebsht\u00eb aktualisht mbi 250% n\u00eb raport me PBB-n\u00eb e saj, por shqet\u00ebsimet p\u00ebr k\u00ebt\u00eb shif\u00ebr kaq t\u00eb lart\u00eb jan\u00eb t\u00eb vogla, sepse ekonomia japoneze \u00ebsht\u00eb n\u00eb gjendje t\u2019u p\u00ebrgjigjet detyrimeve t\u00eb k\u00ebtij borxhi, pa p\u00ebsuar trauma ekonomike, financiare e buxhetore t\u00eb brendshme.<\/p>\n

N\u00eb monetin aktual, Shqip\u00ebria po i afrohet shifr\u00ebs prej 82-85% t\u00eb borxhit t\u00eb saj publik n\u00eb raport me PBB-n\u00eb, shif\u00ebr mjaft e lart\u00eb p\u00ebr \u201cshpatullat\u201d e ekonomis\u00eb shqiptare, nd\u00ebrkoh\u00eb, q\u00eb n\u00eb kushte normale, borxhi jon\u00eb publik duhet t\u00eb synonte nivelin prej 60% n\u00eb periudha afatmesme 4-5-vje\u00e7are, dhe nivelin n\u00ebn 50% n\u00eb periudha afatgjata 8-10-vje\u00e7are. Menaxhimi i k\u00ebtij borxhi n\u00eb vitet n\u00eb vazhdim mbetet nj\u00eb nga sfidat m\u00eb t\u00eb m\u00ebdha e m\u00eb t\u00eb v\u00ebshtira t\u00eb qeverisjes n\u00eb 4 apo 8 vitet n\u00eb vazhdim.<\/p>\n

P\u00ebr \u00e7far\u00eb do t\u00eb p\u00ebrdoren k\u00ebto para?<\/strong><\/p>\n

Ky \u00ebsht\u00eb problem m\u00eb i r\u00ebnd\u00ebsish\u00ebm n\u00eb lidhje me eurobondin prej 650 milion\u00eb eurosh: p\u00ebr \u00e7far\u00eb do t\u00eb p\u00ebrdoren k\u00ebto para? \u00cbsht\u00eb e r\u00ebnd\u00ebsishme q\u00eb n\u00eb k\u00ebt\u00eb drejtim t\u00eb ket\u00eb nj\u00eb transparenc\u00eb maksimale. K\u00ebto para duhet t\u00eb p\u00ebrdoren n\u00eb projekte t\u00eb r\u00ebnd\u00ebsishme zhvillimi ekonomik e social, t\u00eb cilat \u201cp\u00ebrkthehen\u201d n\u00eb rritje ekonomike t\u00eb q\u00ebndrueshme, pun\u00ebsim dhe produktivitet ekonomik t\u00eb lart\u00eb.<\/p>\n

N\u00eb p\u00ebrputhje me strategjin\u00eb ton\u00eb komb\u00ebtare t\u00eb zhvillimit dhe strategjit\u00eb sektoriale, duhet t\u00eb investojm\u00eb n\u00eb sektorin prodhues dhe sh\u00ebrbimet, ve\u00e7an\u00ebrisht n\u00eb turiz\u00ebm. T\u00eb investohen n\u00eb m\u00ebnyr\u00eb t\u00eb men\u00e7ur n\u00eb industrin\u00eb agroushqimore, turiz\u00ebm, transport e infrastruktur\u00eb, uzina apo fabrika me teknologji t\u00eb lart\u00eb, energjin\u00eb e rinovueshme, peshkim, aktivitete me produktivitet e vler\u00eb t\u00eb shtuar t\u00eb lart\u00eb, mb\u00ebshtetjen dhe zgjerimin e eksporteve, vepra ujit\u00ebse e mekanizimi t\u00eb bujq\u00ebsis\u00eb etj.<\/p>\n

N\u00ebse rritja ekonomike dhe niveli i produktivitetit q\u00eb rezulton nga k\u00ebto investime \u00ebsht\u00eb m\u00eb i lart\u00eb se niveli i interesit t\u00eb borxhit, at\u00ebher\u00eb mund t\u00eb themi q\u00eb eurobondin e kemi p\u00ebrdorur me efektivitet, duke pranuar faktin, se n\u00eb k\u00ebt\u00eb rast, kemi b\u00ebr\u00eb nj\u00eb p\u00ebrdorim eficent t\u00eb borxhit, duke e konsideruar instrumentin e borxhit si nj\u00eb mund\u00ebsi t\u00eb mir\u00eb zhvillimi ekonomiko-social t\u00eb vendit. Megjithat\u00eb, duhet pritur publikimi nga qeveria i elementeve kryesore t\u00eb planit t\u00eb rim\u00ebk\u00ebmbjes ekonomike postkoronavirus, p\u00ebr t\u00eb par\u00eb m\u00eb qart\u00eb se si do t\u00eb p\u00ebrdoren parat\u00eb n\u00eb p\u00ebrgjith\u00ebsi dhe ato t\u00eb eurobondit n\u00eb ve\u00e7anti.<\/p>\n

A \u00ebsht\u00eb zgjidhje p\u00ebr ekonomim\u00eb marrja e nj\u00eb borxhi p\u00ebr t\u00eb shlyer borxhet?<\/strong><\/p>\n

\u00cbsht\u00eb nj\u00eb lloj zgjidhjeje q\u00eb \u00ebsht\u00eb p\u00ebrdorur dhe vazhdon t\u00eb p\u00ebrdoret nga shum\u00eb vende, t\u00eb zhvilluara apo n\u00eb zhvillim qofshin ato. Natyrisht, n\u00ebse nj\u00eb veprim i till\u00eb b\u00ebhet shpesh dhe n\u00eb vazhdim\u00ebsi, kjo tregon p\u00ebr vende e ekonomi q\u00eb kan\u00eb probleme t\u00eb r\u00ebnda strukturore, makroekonomike dhe stabilitet financiar t\u00eb brisht\u00eb e t\u00eb paq\u00ebndruesh\u00ebm. Sepse n\u00eb k\u00ebt\u00eb rast, problemi i kriz\u00ebs dhe v\u00ebshtir\u00ebsive t\u00eb brendshme financiare vet\u00ebm sa shtyhet n\u00eb koh\u00eb, nd\u00ebrkoh\u00eb q\u00eb detyrimet dhe pesha e borxhit rritet, duke u b\u00ebr\u00eb e rrezikshme p\u00ebr stabilitetin financiar e buxhetor t\u00eb vendit.<\/p>\n

N\u00eb k\u00ebt\u00eb rast, kjo \u00ebsht\u00eb nj\u00eb praktik\u00eb e vendeve t\u00eb varfra, pothujase t\u00eb falimentuara ekonomikisht, q\u00eb kur bien n\u00eb k\u00ebt\u00eb vorbull borxhesh t\u00eb nj\u00ebpasnj\u00ebshme, rrezikojn\u00eb t\u00eb p\u00ebrballen me kriza t\u00eb r\u00ebnda financiare, rrezikojn\u00eb seriozisht t\u00eb ardhmen e tyre. Por, n\u00eb rast se kjo praktik\u00eb kryhet rrall\u00eb dhe n\u00eb periudha t\u00eb gjata kohore nga nj\u00ebri borxh n\u00eb tjetrin, dhe sidomos, n\u00eb rastet kur p\u00ebrqindja e interesit t\u00eb borxhit t\u00eb ri \u00ebsht\u00eb ndjesh\u00ebm m\u00eb e ul\u00ebt se interesi i borxhit t\u00eb vjet\u00ebr, apo kur pagesa e borxhit t\u00eb vjet\u00ebr shoq\u00ebrohet dhe me nj\u00eb ristrukturim kohor e strukturor t\u00eb tij, at\u00ebher\u00eb kjo mund t\u00eb justifikohet si nj\u00eb praktik\u00eb normale financiare q\u00eb nuk \u00ebsht\u00eb e rrezikshme p\u00ebr destabilizimin e financave publike dhe t\u00eb q\u00ebndrueshm\u00ebris\u00eb buxhetore.<\/p>\n

Sa shkon borxhi p\u00ebr frym\u00eb n\u00eb vendin ton\u00eb? A po u l\u00ebm\u00eb barr\u00eb t\u00eb r\u00ebnd\u00eb brezave?<\/strong><\/p>\n

Deri n\u00eb fund t\u00eb marsit 2020, borxhi publik i Shqip\u00ebris\u00eb kishte arritur n\u00eb rreth 3200 euro p\u00ebr frym\u00eb. Nd\u00ebrsa, me \u201cshtesat\u201d e reja prej gati 1 miliard euro, pa llogaritur k\u00ebtu vijimin e marrjes borxh t\u00eb shum\u00ebs prej 1,15 miliard euro t\u00eb premtuara p\u00ebr rind\u00ebrtimin dhe pasojat e t\u00ebrmetit t\u00eb 26 n\u00ebndorit t\u00eb vitit t\u00eb kaluar, borxhi p\u00ebr frym\u00eb pritet ta kaloj\u00eb shum\u00ebn prej 3500 \u2013 3600 euro.<\/p>\n

Natyrisht, q\u00eb kjo \u00ebsht\u00eb nj\u00eb shif\u00ebr mjaft shqet\u00ebsuese dhe me pesh\u00eb t\u00eb r\u00ebnd\u00eb p\u00ebr brezat e ardhsh\u00ebm, aq m\u00eb tep\u00ebr po t\u00eb shihet e lidhur ngusht\u00eb me \u201ccil\u00ebsin\u00eb\u201d e ekonomis\u00eb son\u00eb, me q\u00ebndrueshm\u00ebrin\u00eb e rritjes ekonomike, me shkall\u00ebn e modernizimit dhe teknologjive t\u00eb reja, me fuqin\u00eb eksportuese dhe nivelin e konkurrueshm\u00ebris\u00eb q\u00eb ka ekonomia shqiptare.<\/p>\n

K\u00ebto jan\u00eb arsyet p\u00ebrse duhet t\u00eb shqet\u00ebsohemi p\u00ebr treguesin e borxhit publik p\u00ebr frym\u00eb n\u00eb Shqip\u00ebri. Por, po t\u00eb llogarisim raportin nd\u00ebrmjet borxhit p\u00ebr frym\u00eb dhe pag\u00ebs mesatare vjetore, pesha e borxhit p\u00ebr frym\u00eb relativizohet disi. Duke pasur nj\u00eb pag\u00eb mesatare mujore prej rreth 400 euro (ose 4800 euro n\u00eb vit), Shqip\u00ebria duket se akoma ka mund\u00ebsi ta mbaj\u00eb n\u00ebn kontroll borxhin p\u00ebr frym\u00eb \u2013 natyrisht, me politika e masa q\u00eb \u00e7ojn\u00eb n\u00eb uljen graduale e t\u00eb q\u00ebndrueshme t\u00eb tij dhe jo vazhdimin e rritjes s\u00eb tij.<\/p>\n

Sa p\u00ebr ilustrim, p\u00ebr shembull, Irlanda e ka borxhin publik p\u00ebr frym\u00eb n\u00eb mas\u00ebn 67000 USD, nd\u00ebrkoh\u00eb q\u00eb paga mesatare vjetore \u00ebsht\u00eb n\u00eb nivelin 46100 USD; Franca e ka borxhin p\u00ebr frym\u00eb n\u00eb nivelin 35800 USD, nd\u00ebrkoh\u00eb q\u00eb paga mesatare vjetore e konvertuar n\u00eb dollar\u00eb \u00ebsht\u00eb 40471 USD etj. \/Fjala.al<\/p>\n","protected":false},"excerpt":{"rendered":"

Nga Adrian Civici Domosdoshm\u00ebria e p\u00ebrdorimit eficent t\u00eb borxhit publik Marrja e nj\u00eb borxhi t\u00eb ri p\u00ebr shlyer nj\u00eb borxh t\u00eb vjet\u00ebr shihet bardh e zi nga dy kampet politike n\u00eb vend, por ekspert\u00ebt e ekonomis\u00eb e \u00e7mojn\u00eb at\u00eb si nj\u00eb \u201czgjidhje\u201d t\u00eb zgjuar dhe rekomandojn\u00eb p\u00ebrdorimin e k\u00ebtyre parave n\u00eb m\u00ebnyr\u00eb sa m\u00eb eficente. […]<\/p>\n","protected":false},"author":1,"featured_media":20768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[9,4],"tags":[],"yoast_head":"\nShqip\u00ebria po i afrohet shifr\u00ebs prej 82-85% t\u00eb borxhit t\u00eb saj publik n\u00eb raport me PBB-n\u00eb - Informohu qart\u00ebsisht!<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/redaktori.com\/?p=22878\" \/>\n<meta property=\"og:locale\" content=\"sq_AL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shqip\u00ebria po i afrohet shifr\u00ebs prej 82-85% t\u00eb borxhit t\u00eb saj publik n\u00eb raport me PBB-n\u00eb - Informohu qart\u00ebsisht!\" \/>\n<meta property=\"og:description\" content=\"Nga Adrian Civici Domosdoshm\u00ebria e p\u00ebrdorimit eficent t\u00eb borxhit publik Marrja e nj\u00eb borxhi t\u00eb ri p\u00ebr shlyer nj\u00eb borxh t\u00eb vjet\u00ebr shihet bardh e zi nga dy kampet politike n\u00eb vend, por ekspert\u00ebt e ekonomis\u00eb e \u00e7mojn\u00eb at\u00eb si nj\u00eb \u201czgjidhje\u201d t\u00eb zgjuar dhe rekomandojn\u00eb p\u00ebrdorimin e k\u00ebtyre parave n\u00eb m\u00ebnyr\u00eb sa m\u00eb eficente. 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