30th May 2026, Skopje - Borrowing was conducted transparently and was planned as part of the 2026 Budget, Deputy Minister of Finance, Nikolche Jankulovski, highlighted in his TV 21 guest appearance.
As he noted, borrowing on the foreign market, planned at EUR 1.3 billion as per the 2026 Budget, took place in January with the issuance of the Eurobond in the amount of EUR 1 billion, EUR 260 million loan from foreign banks and EUR 35 million tied to the Reform Agenda and the Growth Plan.
Jankulovski pointed out that EUR 700 million from the Eurobond proceeds are earmarked for repaying the Eurobond originally issued in 2020. Half of the amount has already been repaid, with the remaining portion to be repaid in June. Thereby, he underscored that the early repayment resulted in savings of EUR 3.2 million. Remaining EUR 300 million from the Eurobond issued and the new borrowing, he added, is allocated for general budgetary needs, budget deficit financing, infrastructure projects, capital investments, as well as repaying liabilities incurred by the previous Government.
“The respective borrowing is consistent with the projected fiscal framework and as such it is not a matter of any debate. As a Government and Ministry of Finance, we had included it in the financial framework back in December 2025”, Deputy Minister stressed out.
Jankulovski highlighted that the Government faces substantial inherited debt liabilities to be repaid, on one hand, and the need to finance capital projects on the other, while also providing for higher wages, subsidies and alike.
During his guest appearance, he emphasized that the Budget is liquid, with obligations repaid on regular basis. As he explained, Supplementary Budget is being prepared and is expected to be submitted to the Government by mid-June, then to the Parliament. No deviations as regards the budget deficit are expected under the Supplementary Budget.
