Skopje, 2 May 2025 (MIA) - Prime Minister Hristijan Mickoski sees the drop in public debt as an excellent indicator of the state of the Macedonian economy. He points out it indicates that the economy has been consolidated and a period of development is ahead.

"Another good news for the Macedonian economy and citizens. In Q1 2025, ending on March 31, public and state debt was reduced. Public debt stands at 57.7% of GDP, while state debt is at 50.1% of GDP," Mickoski posted on Facebook.

This, he adds, is the lowest level in the past five years and compared to the situation in 2020, public debt has decreased by -2%, and state debt has decreased by -0.7%.

"Excellent indicators for the state of the Macedonian economy. After the first phase of stopping the free fall that had been going on for seven years, consolidation takes place faster than expected. A period of development and strategic goals implementation is ahead in this government mandate. We continue with disciplined and developmental economic policies. A proud Macedonia is a rich Macedonia! Macedonia becomes yours again!" Mickoski's Facebook post reads.

Previously, the Ministry of Finance 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.

Photo: Facebook Hristijan Mickoski / MIA archive