Skopje, 14 January 2026 (MIA) - The interest conditions our country secured are among the most favorable in the region and beyond, which further strengthens the country’s position as a stable, credible, and competitive issuer on the international financial markets, said Finance Minister Gordana Dimitrieska-Kochoska at a press conference on Wednesday, a day after the auction of the country’s 10th Eurobond.

According to the Minister, the decision to issue the Eurobond was guided by responsibility to the current fiscal situation and future generations. “Our goal,” she said, “is not just a regular servicing of obligations, but creating a sustainable and stable fiscal framework, with lower pressure from repayments and with more room for meaningful reforms.”

The successful auction, according to Dimitrieska-Kochoska, represents a significant step in public finance management and a clear signal of the trust international investors have in the government’s economic policies.

“Based on a detailed and timely analysis of the state of international financial markets, the Ministry decided to realize the borrowing through two tranches of EUR 500 million each, with a maturity of four and eight years. This type of structure enables an optimal distribution of obligations in the mid and long-term, as well as additional reduction of risks related to refinancing,” Dimitrieska-Kochoska said.

According to the Finance Minister, as a result of the demand and the carefully chosen timing for the issuance of the Eurobond, both tranches achieved the narrowest interest margin relative to Euribor, compared to all government issuances in the past twenty years.

“The interest rates we achieved are among the most favorable relative to the value of Euribor in the past twenty years. For the tranche with a maturity of 4 years the interest rate is 3,875 percent, while for the one with 8 years it is 4,75 percent. Especially considering the current high level of Euribor, these conditions represent the most competitive borrowing cost the country has achieved in the past two decades,” Dimitrieska-Kochoska said.

What is especially significant, according to the Minister, is the fact the country managed to issue an eight-year Eurobond, something which, she said, was last achieved more than twenty years ago. “This represents a strong signal about the trust of international investors in the economic policies, the reform agenda, and the country’s stability,” Dimitrieska-Kochoska said.

Additionally, in order for the entire process to be as cost-effective as possible and have the lowest possible fiscal burden, the Minister said a decision was made to carry out an early buyback of the Eurobond maturing in June 2026, parallel with the new issuance. With this decision, she said, savings will be achieved that will significantly offset the costs of the new issuance

“With the funds secured through this Eurobond, projected in the Budget for 2026, a timely repayment will be carried out of the EUR 700 million Eurobond issued in 2020, while the remaining funds will be aimed at financing the budget deficit and the realization of development projects essential for economic growth,” Dimitrieska-Kochoska said.

The Finance Minister also noted that although the nominal amount of the borrowing is EUR 1 billion, in 2026 the Finance Ministry will make payments on external debt obligations totaling around EUR 893 million. As a result, according to the Minister, the net effect on public debt will be significantly lower and fully aligned with the medium-term fiscal framework.

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