4. Kosovo – Debt Deficit: 5.5% of GDP
Kosovo is one of the youngest countries in the entire world. It was only recognized as an official country in February 2008, when it declared its independence from Serbia.
Until today, 112 countries recognize Kosovo’s freedom, such as the USA and many other members of the EU and UN. Serbia itself does not recognize it as sovereign state. However, Serbia has begun to normalize relations with Kosovo’s government.
Despite being on the 4th rank of countries with least debt deficit, Kosovo is one of the poor countries in eastern Europe. It has just over $7,319 gross domestic product (GDP) per capital.
With such low GDP, what does the 5.5% public debt mean? The country has been a major recipient of foreign aids. Therefore, it can get by without having to rely on debts.
