Skopje, 2 May 2025 (MIA) - The Ministry of Finance has released data on the public debt at the end of Q1 2025. According to the data, public debt has dropped by 4.7 pp compared to the level at the end of 2024 and stands at 57.7 percent of GDP, i.e. a decrease of EUR 36 million in absolute terms.

"Such data is a clear confirmation of the policies we are implementing and the trajectory we are on. The public debt dropped from 62.4 percent of GDP at the end of 2024 to 57.7 percent, which is the result of the measures we are taking for fiscal consolidation, measures to reduce unproductive spending, as well as efforts to increase economic activity," said Minister of Finance Gordana Dimitrieska Kochoska.

According to her, the goal of moving towards a lower budget deficit, in accordance with the fiscal rules of 3 percent and public debt below 60 percent of GDP, is achievable, it just requires a lot of commitment and effort at every level, both in terms of revenue collection and in terms of expenditure. In addition, she adds, what is very important and what this Government is doing is the commitment to realizing investments that will bring higher rates of economic growth, which in the long-run will bring a reduction in the debt level.

Dimitrieska Kochoska notes that a key goal of the Ministry of Finance and the Government is to improve public finance management, as well as maintain a high level of capital expenditures that will support long-term economic priorities.

The Ministry of Finance also released data on the level of state debt in the Q1 2025, which stands at 50.1 percent of GDP and marks a drop of 3.7 pp compared to the level of state debt announced on December 31, 2024. According to the data, the state debt in absolute terms amounts to EUR 8,328.7 million, while the public debt amounts to EUR 9,583.9 million.

In Q1, the Government, i.e. the Ministry of Finance, made a Eurobond payment in the amount of EUR 500 million. In addition, in Q1, a total payment of liabilities based on the principal of external public debt was made in the amount of EUR 679.4 million, including the Eurobond.

The Ministry of Finance, in accordance with the established dynamics, announces the level of public debt on a quarterly basis, while the level of state debt is published on a monthly basis.

Photo: MIA archive