2nd May 2025, Skopje – Ministry of Finance published the data on public debt level at the end of Q1 2025, showing decline by 4.7 p.p. of public debt compared to end-2024, accounting for 57.7% of GDP and amounting to EUR 36 million in absolute terms.
“This data is substantial evidence of the policies we implement and the trajectory we pursue. Public debt, which accounted for 62.4% of GDP at the end of 2024, dropped to 57.7% as a result of the measures we undertake aimed at fiscal consolidation and cutting non-productive expenditures, as well as the efforts put forth to boost economic activity”, Minister of Finance, Gordana Dimitrieska-Kochoska, said.
The objective of a lower budget deficit of 3% and public debt of below 60% of GDP, as per the fiscal rules, is attainable, even so much dedication and efforts are required at all levels, at both revenue and expenditure side. “Moreover, what is of essential importance is the Government’s commitment to implementing investments which will bring about higher economic growth rates which, in turn, will lead to reduction of the debt level on the long run”, Minister of Finances emphasized.
Key objective of both the Ministry of Finance and the Government is improved public finance management, as well as maintaining high level of capital expenditures which will underpin the long-term economic priorities.
In fact, Ministry of Finance also published data on the public debt level in Q1 2025, accounting for 50.1% of GDP and dropping by 3.7 p.p. in relation to the one published on 31st December 2024. According to the published data, government debt amounts to EUR 8,328.7 and public debt amounts to EUR 9,583.9 million, both in absolute terms.
The Government, i.e. the Ministry of Finance, repaid the Eurobond in the amount of EUR 500 million in the first quarter. Moreover, total liabilities on the basis of foreign debt principal payment, including the Eurobond, amounted to EUR 679.4 million, in the respective quarter.
As per the disclosure frequency, Ministry of Finance publishes data on public debt level quarterly, with data on government debt being published monthly.
