The Republic of Moldova will end the year 2020 with a public debt of about 73 billion lei. The figure rose significantly in connection with the COVID-19 pandemic compared with the situation before the pandemic, when the authorities forecast a lower figure, IPN reports.

“If we end 2020 based on the scenario that is now analyzed by Parliament, the Republic of Moldova’s foreign debt will total 73 billion lei or about 34-35% of the Gross Domestic Product,” Deputy Prime Minister Sergiu Pușcuța, Minister of Finance, said in the talk show “Key Issue” on NTV Moldova channel.

The official noted that if Moldova had avoided this pandemic, the public debt towards the end of 2020 would have represented 29.5% of the GDP.

“The current budget that hasn’t been yet amended provides that the Republic of Moldova’s foreign debt at the end of 2020 will constitute 29.5% of the Gross Domestic Product. As a result of these tragic realities, owing to the halt in economic activity, we see that a number of factors will push the public debt up,” stated the minister of finance.

Sergiu Pușcuța noted the 73 billion lei represents both the internal and foreign debts of the country. “Of the 73 billion lei, the public debt makes up approximately 36%, while the internal debts of the state 64%,” he said.