{"id":20419,"date":"2026-06-03T11:57:12","date_gmt":"2026-06-03T09:57:12","guid":{"rendered":"https:\/\/faktiditor.ch\/?p=20419"},"modified":"2026-06-03T11:57:12","modified_gmt":"2026-06-03T09:57:12","slug":"borxhi-publik-ne-ballkanin-perendimor-mali-i-zi-kryeson-kosova-me-nivelin-me-te-ulet","status":"publish","type":"post","link":"https:\/\/faktiditor.ch\/?p=20419","title":{"rendered":"Borxhi publik n\u00eb Ballkanin Per\u00ebndimor: Mali i Zi kryeson, Kosova me nivelin m\u00eb t\u00eb ul\u00ebt"},"content":{"rendered":"

Borxhi publik ka sh\u00ebnuar rritje n\u00eb pjes\u00ebn m\u00eb t\u00eb madhe t\u00eb vendeve t\u00eb Ballkanit Per\u00ebndimor gjat\u00eb viteve t\u00eb fundit, megjith\u00ebse niveli i tij ndryshon ndjesh\u00ebm nga nj\u00eb shtet n\u00eb tjetrin. N\u00eb disa raste, qeverit\u00eb e kan\u00eb p\u00ebrdorur huamarrjen si nj\u00eb instrument p\u00ebr stimulimin e aktivitetit ekonomik, financimin e investimeve publike dhe p\u00ebrshpejtimin e zhvillimit ekonomik. N\u00eb raste t\u00eb tjera, megjithat\u00eb, huamarrja \u00ebsht\u00eb p\u00ebrdorur kryesisht p\u00ebr t\u00eb shlyer detyrimet ekzistuese, duke krijuar nj\u00eb cik\u00ebl t\u00eb vazhduesh\u00ebm borxhi, shkruan FaktiDitor.mk<\/p>\n

Nd\u00ebrsa huamarrja p\u00ebr financimin e investimeve produktive mund t\u00eb justifikohet ekonomikisht dhe t\u00eb kontribuoj\u00eb n\u00eb rritjen afatgjat\u00eb, marrja e borxheve t\u00eb reja p\u00ebr t\u00eb shlyer borxhet e vjetra p\u00ebrb\u00ebn nj\u00eb praktik\u00eb shqet\u00ebsuese q\u00eb mund t\u00eb cenoj\u00eb stabilitetin fiskal dhe financiar t\u00eb nj\u00eb vendi. Nj\u00eb situat\u00eb e till\u00eb mund t\u00eb krijoj\u00eb spirale t\u00eb rrezikshme borxhi, duke rritur barr\u00ebn mbi buxhetin publik dhe duke kufizuar aft\u00ebsin\u00eb e shtetit p\u00ebr t\u00eb financuar politika zhvillimore.<\/p>\n

Nj\u00eb shembull aktual \u00ebsht\u00eb Maqedonia e Veriut, e cila gjat\u00eb jav\u00ebve t\u00eb fundit ka siguruar nj\u00eb hua t\u00eb re n\u00eb vler\u00eb prej 260 milion\u00eb eurosh. Ky zhvillim ka rikthyer debatin mbi q\u00ebndrueshm\u00ebrin\u00eb e borxhit publik dhe mbi rreziqet q\u00eb mund t\u00eb paraqes\u00eb rritja e vazhdueshme e tij p\u00ebr ekonomin\u00eb e vendit.<\/p>\n

Borxhi publik n\u00eb raport me Prodhimin e Brendsh\u00ebm Bruto (PBB)<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n
Shteti<\/strong><\/td>\nBorxhi publik (% e PBB-s\u00eb)<\/strong><\/td>\n<\/tr>\n
Shqip\u00ebria<\/td>\n53.0%<\/td>\n<\/tr>\n
Kosova<\/td>\n16.0%<\/td>\n<\/tr>\n
Mali i Zi<\/td>\n63.5%<\/td>\n<\/tr>\n
Maqedonia e Veriut<\/td>\n60.0%<\/td>\n<\/tr>\n
Bosnja dhe Hercegovina<\/td>\n34.0%<\/td>\n<\/tr>\n
Serbia<\/td>\n45.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

T\u00eb dh\u00ebnat tregojn\u00eb dallime t\u00eb konsiderueshme n\u00eb nivelin e borxhit publik nd\u00ebrmjet vendeve t\u00eb Ballkanit Per\u00ebndimor. Mali i Zi kryeson rajonin me nj\u00eb borxh publik q\u00eb arrin n\u00eb 63.5% t\u00eb PBB-s\u00eb, nivel q\u00eb konsiderohet relativisht i lart\u00eb dhe q\u00eb mund t\u00eb paraqes\u00eb rreziqe p\u00ebr stabilitetin fiskal n\u00eb periudh\u00eb afatmesme dhe afatgjat\u00eb.<\/p>\n

N\u00eb an\u00ebn tjet\u00ebr, Kosova paraqet nivelin m\u00eb t\u00eb ul\u00ebt t\u00eb borxhit publik n\u00eb rajon, me vet\u00ebm 16% t\u00eb PBB-s\u00eb. Diferenca nd\u00ebrmjet Malit t\u00eb Zi dhe Kosov\u00ebs arrin n\u00eb 47.5 pik\u00eb p\u00ebrqindjeje, duke reflektuar qasje t\u00eb ndryshme n\u00eb menaxhimin e financave publike dhe t\u00eb politikave fiskale.<\/p>\n

Maqedonia e Veriut renditet e dyta n\u00eb rajon p\u00ebr nga niveli i borxhit publik, me 60% t\u00eb PBB-s\u00eb. Kjo p\u00ebrqindje \u00ebsht\u00eb vet\u00ebm 3.5 pik\u00eb p\u00ebrqindjeje m\u00eb e ul\u00ebt se ajo e Malit t\u00eb Zi dhe plot 44 pik\u00eb p\u00ebrqindjeje m\u00eb e lart\u00eb se ajo e Kosov\u00ebs. Bosnja dhe Hercegovina renditet e dyta pas Kosov\u00ebs p\u00ebr nga niveli m\u00eb i ul\u00ebt i borxhit publik, me 34% t\u00eb PBB-s\u00eb, nd\u00ebrsa Serbia dhe Shqip\u00ebria pozicionohen n\u00eb mes t\u00eb k\u00ebtyre dy ekstremeve.<\/p>\n

Efektet ekonomike t\u00eb borxhit t\u00eb lart\u00eb publik<\/strong><\/p>\n

Nj\u00eb nivel i lart\u00eb i borxhit publik mund t\u00eb prodhoj\u00eb nj\u00eb s\u00ebr\u00eb pasojash negative p\u00ebr ekonomin\u00eb e nj\u00eb vendi.<\/p>\n

S\u00eb pari, rritja e huamarrjes nga ana e shtetit mund t\u00eb shtoj\u00eb k\u00ebrkes\u00ebn p\u00ebr kapital n\u00eb tregjet financiare, duke ushtruar presion p\u00ebr rritjen e normave t\u00eb interesit. Si rezultat, kredit\u00eb b\u00ebhen m\u00eb t\u00eb kushtueshme p\u00ebr bizneset dhe familjet, duke reduktuar investimet private dhe duke ngadal\u00ebsuar rritjen ekonomike, shkruan FaktiDitor.mk<\/p>\n

S\u00eb dyti, nj\u00eb pjes\u00eb e konsiderueshme e buxhetit publik duhet t\u00eb dedikohet p\u00ebr pages\u00ebn e interesave dhe shlyerjen e detyrimeve t\u00eb borxhit. Kjo kufizon hap\u00ebsir\u00ebn fiskale t\u00eb qeverive p\u00ebr t\u00eb investuar n\u00eb infrastruktur\u00eb, arsim, sh\u00ebndet\u00ebsi dhe sektor\u00eb t\u00eb tjer\u00eb me r\u00ebnd\u00ebsi strategjike p\u00ebr zhvillimin ekonomik.<\/p>\n

S\u00eb treti, n\u00eb rastet kur qeverit\u00eb p\u00ebrballen me v\u00ebshtir\u00ebsi n\u00eb financimin e detyrimeve t\u00eb tyre, mund t\u00eb rritet presioni p\u00ebr politika monetare ekspansioniste, t\u00eb cilat potencialisht mund t\u00eb kontribuojn\u00eb n\u00eb rritjen e inflacionit dhe dob\u00ebsimin e fuqis\u00eb bler\u00ebse t\u00eb qytetar\u00ebve.<\/p>\n

Gjithashtu, borxhi i lart\u00eb publik shpesh shoq\u00ebrohet me nevoj\u00ebn p\u00ebr rritjen e taksave ose reduktimin e shpenzimeve publike. K\u00ebto masa mund t\u00eb ndikojn\u00eb negativisht n\u00eb konkurrueshm\u00ebrin\u00eb e ekonomis\u00eb, n\u00eb konsumin e brendsh\u00ebm dhe n\u00eb aft\u00ebsin\u00eb kursyese t\u00eb familjeve.<\/p>\n

M\u00ebsime p\u00ebr rajonin<\/strong><\/p>\n

Nga perspektiva e q\u00ebndrueshm\u00ebris\u00eb fiskale, Kosova paraqet aktualisht shembullin m\u00eb t\u00eb favorsh\u00ebm n\u00eb Ballkanin Per\u00ebndimor p\u00ebr sa i p\u00ebrket nivelit t\u00eb ul\u00ebt t\u00eb borxhit publik.<\/p>\n

N\u00eb t\u00eb kund\u00ebrt, niveli i lart\u00eb i borxhit n\u00eb Mal t\u00eb Zi duhet t\u00eb sh\u00ebrbej\u00eb si nj\u00eb sinjal paralajm\u00ebrues p\u00ebr vendet e tjera t\u00eb rajonit, ve\u00e7an\u00ebrisht p\u00ebr Maqedonin\u00eb e Veriut, e cila po afrohet me nivele t\u00eb ngjashme t\u00eb huamarrjes publike. Ruajtja e disiplin\u00ebs fiskale dhe orientimi i huamarrjes drejt investimeve produktive mbeten faktor\u00eb ky\u00e7 p\u00ebr garantimin e stabilitetit makroekonomik dhe zhvillimit t\u00eb q\u00ebndruesh\u00ebm n\u00eb t\u00eb ardhmen.\/FaktiDitor.mk<\/p>\n","protected":false},"excerpt":{"rendered":"

Borxhi publik ka sh\u00ebnuar rritje n\u00eb pjes\u00ebn m\u00eb t\u00eb madhe t\u00eb vendeve t\u00eb Ballkanit Per\u00ebndimor…<\/p>\n","protected":false},"author":1,"featured_media":20422,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-20419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lajme"],"_links":{"self":[{"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/posts\/20419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20419"}],"version-history":[{"count":1,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/posts\/20419\/revisions"}],"predecessor-version":[{"id":20423,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/posts\/20419\/revisions\/20423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=\/wp\/v2\/media\/20422"}],"wp:attachment":[{"href":"https:\/\/faktiditor.ch\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/faktiditor.ch\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}