N\u00eb gjysm\u00ebn e par\u00eb t\u00eb vitit 2025, Shqip\u00ebria ka sh\u00ebnuar nj\u00eb p\u00ebrmir\u00ebsim t\u00eb duksh\u00ebm n\u00eb perceptimin e rrezikut sovran nga tregjet nd\u00ebrkomb\u00ebtare. Sipas t\u00eb dh\u00ebnave t\u00eb p\u00ebrdit\u00ebsuara m\u00eb 23 qershor 2025, dhe t\u00eb publikuara n\u00eb nj\u00eb dokument pune t\u00eb Komisionit Europian diferenca e bonove sovrane t\u00eb Shqip\u00ebris\u00eb n\u00eb euro ndaj bonove t\u00eb Thesarit t\u00eb SHBA ka r\u00ebn\u00eb n\u00eb m\u00ebnyr\u00eb t\u00eb ndjeshme, krahasuar me fundin e vitit t\u00eb kaluar,.<\/p>\n
Grafiku tregon se n\u00eb 31 dhjetor 2024, diferenca p\u00ebr Shqip\u00ebrin\u00eb ishte m\u00eb e lart\u00eb, nd\u00ebrsa n\u00eb qershor 2025 \u00ebsht\u00eb ulur ndjesh\u00ebm, duke zbritur n\u00eb rreth 200 pik\u00eb baz\u00eb (shiko grafikun e m\u00ebposht\u00ebm), duke sinjalizuar nj\u00eb p\u00ebrmir\u00ebsim t\u00eb besueshm\u00ebris\u00eb financiare dhe ulje t\u00eb perceptimit t\u00eb rrezikut nga investitor\u00ebt nd\u00ebrkomb\u00ebtar\u00eb.<\/p>\n
Shqip\u00ebria renditet m\u00eb mir\u00eb se Egjipti, Turqia, Rumania, Maqedonia e Veriut dhe Serbia, duke l\u00ebn\u00eb pas nj\u00eb grup vendesh me nivele m\u00eb t\u00eb larta t\u00eb riskut sovran. Ky zhvillim reflekton nj\u00eb kombinim faktor\u00ebsh pozitiv\u00eb, p\u00ebrfshir\u00eb p\u00ebrmir\u00ebsimin e indikator\u00ebve fiskal\u00eb, stabilitetin makroekonomik dhe nj\u00eb perceptim m\u00eb t\u00eb mir\u00eb t\u00eb stabilitetit politik dhe perspektiv\u00ebs p\u00ebr integrim evropian.<\/p>\n
R\u00ebnia e diferenc\u00ebs (spred-it) do t\u00eb thot\u00eb se Shqip\u00ebria mund t\u00eb ket\u00eb akses m\u00eb t\u00eb favorsh\u00ebm n\u00eb tregjet nd\u00ebrkomb\u00ebtare t\u00eb kapitalit dhe t\u00eb financoj\u00eb borxhin publik me kosto m\u00eb t\u00eb ul\u00ebt.<\/p>\n
N\u00eb krahasim me fundin e vitit 2024, p\u00ebrmir\u00ebsime t\u00eb ngjashme jan\u00eb sh\u00ebnuar edhe nga vende si Serbia dhe Bullgaria, nd\u00ebrsa Egjipti dhe Turqia vazhdojn\u00eb t\u00eb mbeten n\u00eb krye t\u00eb list\u00ebs me riskun m\u00eb t\u00eb lart\u00eb, si\u00e7 tregon spredi m\u00eb i lart\u00eb n\u00eb raport me bonot amerikane.<\/p>\n
Spredi ndaj bonove t\u00eb Thesarit t\u00eb SHBA tregon sa interes shtes\u00eb k\u00ebrkojn\u00eb investitor\u00ebt p\u00ebr ti huazuar nj\u00eb vendi, krahasuar me nj\u00eb investim t\u00eb sigurt si bonot amerikane. Spred i lart\u00eb tregon perceptim m\u00eb t\u00eb lart\u00eb rreziku, dhe si rrjedhoj\u00eb kosto m\u00eb t\u00eb lart\u00eb huamarrjeje. Spred i ul\u00ebt tregon besim m\u00eb t\u00eb madh nga tregjet, q\u00eb shoq\u00ebrohet me kosto m\u00eb t\u00eb ul\u00ebt t\u00eb borxhit.<\/p>\n
N\u00eb rastin e Shqip\u00ebris\u00eb, r\u00ebnia e spread-it n\u00eb 2025 tregon p\u00ebrmir\u00ebsim t\u00eb besueshm\u00ebris\u00eb financiare dhe ulje t\u00eb perceptimit t\u00eb rrezikut. N\u00eb fillim t\u00eb muajit shkurt, Republika e Shqip\u00ebris\u00eb doli p\u00ebr her\u00eb t\u00eb 7-t\u00eb n\u00eb tregjet e kapitalit, duke emetuar me sukses nj\u00eb Eurobond me vler\u00eb 650 milion\u00eb euro.<\/p>\n
Ky Eurobond u emetua me nj\u00eb kupon 4.75% dhe me nj\u00eb norm\u00eb interesi (yield) 5%. Instrumenti ka nj\u00eb jet\u00ebgjat\u00ebsi 10-vje\u00e7are dhe do t\u00eb maturohet n\u00eb Shkurt 2035. Interesi i investitor\u00ebve ishte i lart\u00eb duke ndikuar n\u00eb uljen e interesit.<\/p>\n
Ky \u00ebsht\u00eb emetimi m\u00eb i suksessh\u00ebm i Republik\u00ebs s\u00eb Shqip\u00ebris\u00eb, q\u00eb prej emetimit t\u00eb par\u00eb n\u00eb vitin 2010. Shqip\u00ebria ka sh\u00ebnuar nj\u00eb ulje t\u00eb ndjeshme t\u00eb borxhit publik dy vitet e fundit duke nxitur p\u00ebrmir\u00ebsimin e renditjes nga agjencit\u00eb vler\u00ebsuese nd\u00ebrkomb\u00ebtare, si Moody\u2019s ashtu dhe Standards&Poors.<\/p>\n
N\u00eb fund t\u00eb vitit 2024, borxhi publik i vendit arriti n\u00eb 54,74% e PBB-s\u00eb, me nj\u00eb r\u00ebnie prej 2,7 pik\u00ebsh n\u00eb raport me vitin 2023. Ky ishte niveli m\u00eb i ul\u00ebt i borxhit publik n\u00eb raport me PBB-s\u00eb q\u00eb nga viti 2008.<\/p>\n
R\u00ebnia e rrezikut ka nxitur dhe diversifikimin e tregut t\u00eb borxhit. Q\u00eb prej vitit t\u00eb kaluar, investitor\u00eb t\u00eb huaj kan\u00eb nisur t\u00eb investojn\u00eb n\u00eb instrumentet e borxhit n\u00eb Lek t\u00eb qeveris\u00eb shqiptare. T\u00eb dh\u00ebnat e Bank\u00ebs s\u00eb Shqip\u00ebris\u00eb treguan se p\u00ebr vitin 2024, investitor\u00ebt jorezident\u00eb investuan af\u00ebrsisht 14 miliard\u00eb lek\u00eb n\u00eb instrumente borxhi n\u00eb Lek.<\/p>\n
Kjo shum\u00eb p\u00ebrb\u00ebnte af\u00ebrsisht 28% t\u00eb shtes\u00ebs s\u00eb huamarrjes s\u00eb qeveris\u00eb shqiptare n\u00eb tregun e brendsh\u00ebm financiar. Pjes\u00ebmarrja e investitor\u00ebve t\u00eb huaj \u00ebsht\u00eb nj\u00eb zhvillim i r\u00ebnd\u00ebsish\u00ebm, sepse ka rritur k\u00ebrkes\u00ebn dhe likuiditetin n\u00eb tregun e titujve qeveritar\u00eb, duke ndikuar n\u00eb uljen e yield-eve.\/ Monitor<\/p>\n
The post Bie ndjesh\u00ebm rreziku sovran p\u00ebr Shqip\u00ebrin\u00eb nga tregjet nd\u00ebrkomb\u00ebtare<\/a> appeared first on Lapsi.al<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" N\u00eb gjysm\u00ebn e par\u00eb t\u00eb vitit 2025, Shqip\u00ebria ka sh\u00ebnuar nj\u00eb p\u00ebrmir\u00ebsim t\u00eb duksh\u00ebm n\u00eb perceptimin e rrezikut sovran nga tregjet nd\u00ebrkomb\u00ebtare. Sipas t\u00eb dh\u00ebnave t\u00eb p\u00ebrdit\u00ebsuara m\u00eb 23 qershor 2025, dhe t\u00eb publikuara n\u00eb nj\u00eb dokument pune t\u00eb Komisionit Europian diferenca e bonove sovrane t\u00eb Shqip\u00ebris\u00eb n\u00eb euro ndaj bonove t\u00eb Thesarit t\u00eb SHBA […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28676","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/posts\/28676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/comments?post=28676"}],"version-history":[{"count":0,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/posts\/28676\/revisions"}],"wp:attachment":[{"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/media?parent=28676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/categories?post=28676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zennihost.com\/test\/wp-json\/wp\/v2\/tags?post=28676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}