Mickoski: The economy is consolidated, a period of development and realization of strategic goals

For Prime Minister Hristijan Mickoski, the reduction of public and government debt is an excellent indicator of the situation of the Macedonian economy. This, as he points out, points out that the economy consolidated by the freedom in the past years and that there is a period of development.

-Another good news for the Macedonian economy and the citizens. In the first quarter of 2025, as of the 31st of March, public and government debt decreased. Public debt is 57.7% of GDP, and government debt is 50.1% of GDP – writes Mickoski on his Facebook profile.

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

-Excellent indicators of the situation of the Macedonian economy. After the first phase of stopping the free fall that occurred for seven years, faster than expected consolidation occurred, now there is a period of development and realization of the strategic goals in this mandate of the Government. We continue with disciplined and developmental economic policies. Proud Macedonia is a rich Macedonia! Macedonia becomes yours again! – writes Mickoski on fb.

Earlier, the Ministry of Finance published data on public debt levels at the end of the first quarter of 2025. According to the published data, the public debt decreased by 4.7 pp. Compared to the level of the end of 2024, it stands at 57.7 percent of GDP or a decrease of 36 million euros in an absolute amount.

-This data is a direct confirmation of the policies we implement and the trajectory we move. Public debt of 62.4 percent of GDP at the end of 2024 dropped to 57.7 percent, which is a result of the measures we are taking for fiscal consolidation, measures to reduce unproductive spending, as well as efforts to raise economic activity-says Finance Minister Gordana Dimitrijeska-Kochoska.

According to her, the goal of going to a lower budget deficit, in accordance with fiscal rules of 3 percent and public debt below 60 percent of GDP, is viable, only requires much commitment and effort at every level and the income collection side, as well as on the expenditure side. In addition, as he adds, and what is very important that 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 decrease in debt levels.

Dimitrijeska-Kochoska emphasizes that the 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.