The Ministry of Finance has begun procedures for new borrowing of €1.3 billion, following the government’s approval of the decision.
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According to the ministry headed by Minister Gordana Dimitrievska-Koçoska, the funds are expected to be raised on the international market during the coming year. However, the date of the borrowing has not yet been determined, as it will depend on the terms offered by the market. The funds will be used to repay previous obligations.
The Ministry of Finance announced that the money will be used to finance the 2027 budget deficit, as well as to repay debts falling due from previous borrowing. This amount also includes the Eurobond issued in 2023, which matures in 2027.
According to the ministry, the planned borrowing is in line with the Fiscal Strategy and the Public Debt Strategy.
The decision has been opposed by the SDSM, which claims that the funds are being secured for electoral purposes and that the state coffers are empty. The party led by Venko Filipche says that over the past 35 years, all governments have borrowed a total of €8 billion, while the Mickoski government, it claims, has increased the debt by €4 billion in two years.
Official data for 2026 show that North Macedonia’s public debt has exceeded €10.7 billion, accounting for around 60% of gross domestic product (GDP).
