19th May 2025, Skopje – Fiscal consolidation remains the Government’s top priority, and we will remain fully committed to the goals set out in the Fiscal Strategy. We have reached the peak, and now we aim to reduce the public debt, Minister of Finance, Gordana Dimitrieska-Kochoska said in her guest appearance in “360 Stepeni” TV Show, in reference to the impact the implementation of the new investment plan has on the public debt level.
“Last year, budget deficit stood at 4.4% of GDP, accounting for 4% this year. In the first quarter of 2025, public debt reached its lowest level in the past five years, thus marking a first decrease compared to the end of the very same year since 2018 onwards. In other words, Minister of Finance highlighted that, since 2018 onwards, this has been the first year when public debt in the first quarter is lower than at the end of that same year. She also noted that the debt has been reduced by EUR 36 million in the first quarter.
She stressed the cautious approach to operating, reflecting a strong commitment to managing the Budget responsibly.
“I could have acted in the same way as my predecessors. They incurred debts in the first quarter so as to remain at ease for the rest of the year, only for the citizens to bear the cost of the interest payments later. I could have also made a borrowing of EUR 300 million to EUR 400 million on behalf of the state, thus entailing the payment of 7% interest every month. But than, who would be held accountable? I, as a Minister, will not allow this to happen as evidenced by the figures themselves”, Minister said.
She emphasized that borrowing is justified only if it adds value to the economy.
