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In the first quarter of 2025, North Macedonia’s public debt decreased to 57.7% of GDP, down from 62.4% at the end of 2024, marking a 4.7 percentage point reduction. This decline reflects the government’s commitment to fiscal consolidation, reduction of unproductive spending, and efforts to boost economic activity.
Finance Minister Gordana Dimitrieska-Kochoska emphasized that achieving a budget deficit below 3% and maintaining public debt under 60% of GDP are attainable goals, requiring dedication across all levels of government. She highlighted the importance of strategic investments to foster long-term economic growth, which in turn would contribute to further debt reduction.
The Ministry of Finance reported that the state debt stood at 50.1% of GDP at the end of Q1 2025, a decrease of 3.7 percentage points from the previous quarter. In absolute terms, the public debt amounted to €9.58 billion, while the state debt was €8.33 billion.
During Q1 2025, the government fulfilled its obligation by repaying a €500 million Eurobond and settled a total of €679.4 million in external public debt principal payments. These actions demonstrate the country’s proactive approach to debt management and commitment to fiscal responsibility.
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