Dimitrieska-Kochoska: The approach we take is clear and focused on two objectives: considerable support for the private sector and timely settlement of liabilities

29^th January 2026, Skopje – By responding to an MP question in the Parliament’s premises today, Minister of Finance, Gordana Dimitrieska-Kochoska stated that the Government had inherited an exceptionally grave and alarming financial standing, with the Budget being almost completely depleted and over 70% of the budget deficit already incurred before the new Government took office. However, as the Minister stressed that, what was of fundamental importance to both her as Minister of Finance and the Government, was that they approached matters with a focus on two key objectives.
"Our approach is clear and centered on two goals: strong support for the private sector as a driving force of economic growth, and rigorous discipline in public finance management. Timely settlement of liabilities, sound public finance, and an economy that produces value added, are our priorities. State’s role is primarily proactive - the more effectively it is organized and the stronger its support for the private sector, the better the economic performance, Minister pointed out.
She underlined that the economic performance has seen significant improvements over the past period. In 2025, quarterly GDP growth accounted for 2.9% in the first quarter, rising to 3.5% and 3.8% in the second and third quarters, respectively, with nominal growth exceeding 10%. As she highlighted, these trends lay the groundwork fora further reduction in both the budget deficit and the public debt relative to GDP.
In 2025, Denar 16.9 billion was allocated from the Budget, as support for the private sector through various mechanisms, including the Development Bank, with these funds already generating tangible results in the economy.
As regards public finance, the Minister stressed that fiscal consolidation is not just a theory, given the actual and tangible results it delivers. Budget deficit declined from almost 8% of GDP in 2020 to 4.4% in 2024 and 4% in 2025, with projections indicating a further reduction to 3.5% in 2026.
Minister emphasized the successful Eurobond issuance at the beginning of 2026, which, in her view, was timed perfectly and issued under most favourable terms and conditions to date, recording the tightest interest margin over EURIBOR and the lowest costs so far.
“Investors’ demand reached EUR 4.3 billion for the requested EUR 1 billion, reflecting strong confidence in the country’s economic policies and institutional stability. Eurobond is not an objective in itself, but a signal of trust and promising outlook for the economy’s future. Minister highlighted that, for the first time, long-term institutional investors, including the largest Pension Fund in the USA, took part on a significant scale in the Eurobond issuance.