While foreign direct investments have become a thing of the past, the Government keeps adding to the national debt. Additional 30 million EUR were added to the debt with the bond auction held on Tuesday, even though a cool half a billion was the amount of the Euro denominated bond issued only at the beginning of the year. Interest payments on this bond alone will amount to nearly 100 million EUR.
As a result of this policy, public debt has soared to 48.8 percent of GDP, and is expected to push through the 50 percent barrier in the next year. This sparked the International Monetary Fund to issue recommendations to the Macedonian Government that clarify its plans, especially given that the reason for these debt increases is no longer mostly debt restructuring, but also new spending.