8th June 2026, Skopje - International Monetary Fund (IMF), within the official mission undertaken as part of the regular consultations under 2026 Article IV, assessed that the country’s economy shows resilience and stability despite a difficult external environment. Economic growth has accelerated, public debt has stabilized and financial sector remains to be strong and liquid. The Staff Report released today, states that economic growth in 2025 strengthened to 3.5%, driven by robust investment and private consumption. As indicated, despite revenue shortfalls, fiscal targets were met in 2025, and public debt declined slightly, supported by strong nominal GDP growth.
IMF Executive Directors welcomed the Government and the Ministry of Finance’s continued commitment to fiscal consolidation and safeguarding public finance sustainability.
According to the Report, continued efforts aimed at reducing the budget deficit, strengthening the revenue collection, improving the efficiency of public expenditures and prudent public debt management are key to bolster economic resilience.
IMF also stresses the necessity of closely monitoring the external risks, especially amid heightened uncertainty in global markets and emerging pressure from rising energy prices.
As stated in the Report, country’s progress under the EU Growth Plan has been positively assessed, stressing the importance of pursuing reforms aimed at boosting productivity, improving the business environment, the rule of law and the fight against corruption.
Continued actions towards fiscal consolidation, strengthened tax administration and improved efficiency of both public spending and public investments are essential in the coming period, according to the Staff Report. As noted by the IMF, further pursuit of structural reforms is necessary to lift productivity, improve the business climate, strengthen SOE management and enhance institutional capacities. Importance of reforms in the energy sector and the labour market, alongside measures that foster sustainable and inclusive growth and faster convergence towards the EU economic standards, is also underscored in the Article IV Staff Report.
IMF Mission was carried out in the period 18th - 31st March 2026, with the Staff Report being prepared on the basis of the preliminary findings published upon the end of the official staff visit. Article IV Consultations take place at regular annual intervals.
