Skopje, 28 October 2025 (MIA) - The main challenge for public debt financing in the coming year is the repayment of the €700 million bond, Finance Minister Gordana Dimitrieska Kochoska said Tuesday, noting that this is the biggest pressure on the budget. She added that the government will combine foreign and domestic borrowing to avoid overburdening domestic banks and to allow them to support the private sector.

“There are almost €200 million more in external liabilities, old debts that need to be repaid. Therefore, financing is planned through a €950 million Eurobond, which could rise since another €350 million in foreign and €400 million in domestic borrowing are projected,” Dimitrieska Kochoska said in response to a journalist’s question at the government press conference presenting the 2026 draft budget.

She noted that the public debt increase will match the deficit amount of Mden 39 billion, with no additional borrowing.

“All other funds are intended for repaying old liabilities,” Dimitrieska Kochoska said.

When asked about the projected public debt, she said the exact figure will be available by the end of the day.

“Regarding the public debt, I would not like to give figures right now, although we do have them. I prefer to wait until the end of the day. You know there have been adjustments made in the State Statistical Office. We are waiting to see if there will be any changes for 2024; for 2025, there are absolutely no changes. We will see how our projections develop, given that at the moment public debt stands at 58.5 percent. It is unlikely that we will surpass 60 percent by year-end, even though the projection for this year was over 62 percent. We should wait until the end of the day to see the full data, including from other institutions, as public debt also covers obligations of entities not part of the Budget or state-owned joint-stock companies. By day’s end, we will have the exact figure and I can announce the precise public debt,” Dimitrieska Kochoska said.

Photo: MIA archive