Government approves new €1.3 billion borrowing
Opposition says the new borrowing brings two-year total to €4 billion; public debt is €10.7 billion or 58.8% of GDP.
The Government approved new borrowing of €1.3 billion at a cabinet session, a move the opposition SDSM says raises the total added debt under Prime Minister Hristijan Mickoski to €4 billion over two years.
Numbers and fiscal pressure
Official figures put the country’s public debt at €10.7 billion, equal to 58.8% of GDP. That total does not include nearly €700 million in unpaid obligations by public institutions; if those are counted, the wider measure of indebtedness crosses the psychological 60% of GDP threshold.
Prime Minister Hristijan Mickoski defended the borrowing, saying the government is taking on new debt in part to repay older liabilities and that he expects GDP growth to continue in the range of 3.5–4.0%.
University professor Vancho Uzunov sharply criticized the practice. “Constant borrowing by the state under the pretext of repaying old debts is classic demagogy that citizens pay dearly,” he said.
Uzunov added that sustainable stability requires stronger investment in education and healthcare, arguing that other economic benefits will follow once those foundations are in place.
Parliament recently voted in favour of moving forward with a draft law on reporting and screening of foreign direct investments.
Photo: press material from the event
