Brussels, 8 May 2025 (MIA) - The country's government debt at the end of the first quarter (Q1) of 2025 amounted to 57.7 percent of the GDP, which is nearly 24 percent lower compared to the EU average and over 30 percentage points below the Eurozone debt.

Authorities expect the government debt to drop in the coming period, and as Prime Minister Hristijan Mickoski put it, go below 55 percent or even 50 percent by the end of the Government term.

In addition, Finance Minister Gordana Dimitrieska Kochoska said the government debt has dropped not only in percentage but also in absolute numbers, namely by EUR 36 million.

Finance Ministry data shows that the government debt in Q1 has dropped by 4.7 percentage points compared to the final quarter of 2024, when it stood at 62.4 percent of the GDP.

According to Eurostat data, the average gross government debt in EU member-states at the end of 2024 amounted to 81.6 percent of the GDP, and up to 88.2 percent in the Euro area.

Greece had the highest debt at 153.6 percent, followed by Italy (135.3%) and France (113%), whereas Estonia (23.6%), Bulgaria (24.1%) and Luxembourg (26.3%) posted the lowest debt.

Photo: Eurostat/MIA file photo