1st August 2026, Skopje – Public finances were managed in line with the projected fiscal objectives, with all obligations under the legal requirements towards the citizens and the business sector being serviced in regular and timely manner, while substantial capital investments were implemented, contributing to economic growth and improving infrastructure, as evidenced by the 2025 Annual Financial Statement of Republic of North Macedonia, adopted by the Parliament.
When presenting the Annual Financial Statement before the Members of Parliament, Deputy Minister of Finance, Nikolche Jankulovski, emphasized that fiscal policy in 2025 was implemented in a responsible and disciplined manner, with funds provided for the regular operations of institutions, timely payment of wages and pensions, payments on the basis of social rights and healthcare services, as well as the implementation of development projects.
In 2025, real GDP growth stood at 3.5%, with the construction and services sectors being the main drivers of economic activity. Construction recorded double-digit growth of 13.7%, driven primarily by scaled-up infrastructure investments.
Total Budget revenues were collected in the amount of Denar 335.7 billion, being a 9.9% increase compared to last year, while collection of revenues from taxes and social contributions accounted for 96.2% of the projections. Total expenditures amounted to Denar 377.5 billion, with all obligations under the legal requirements of the state fulfilled on time and without delay.
Throughout the year, pensions, social allowances, healthcare contributions, grants to municipalities, agricultural subsides, as well as all other state obligations were paid promptly.
Capital expenditures amounted to Denar 28.5 billion, aimed at implementing infrastructure projects, primarily in the area of road infrastructure, with substantial investments being made in construction of sections along Corridor 8 and 10d.
In 2025, the budget deficit amounted to Denar 41.8 billion or 4% of GDP, as per the projections and resulting from the prudent and responsible management of public finances and public debt.
“Throughout 2025, despite numerous challenges, public finances ensured for timely payment of legally established entitlements and the implementation of strategic priorities without compromising the country’s fiscal sustainability, while ensuring efficient public spending,” Deputy Minister of Finance, Nikolche Jankulovski, stressed.
He underlined that the Annual Financial Statement serves as confirmation of the realistic planning and responsible execution of the Budget, which, despite global economic challenges, preserved macroeconomic stability and fiscal sustainability, while sustaining investments in infrastructure and development projects with long-term benefits for the economy and citizens’ quality of life.
