Tag: debt
Economy 19.07.23 | 11:34

Parliament closes loophole used by debt enforcement agents

Parliament yesterday adopted changes to the law on obligations and the law on enforcement of court decisions, that will close a loophole used by enforcement agents. Under the law, debts owed under an effective court order expire in 10 years. Because of this, it became customary that enforcement agents...
Economy 24.01.23 | 14:19

Mickoski: The Government raked up 110 million EUR in deficit spending over just 20 days

Macedonia’s budget deficit over only the past 20 days amounted to 110 million EUR, warned VMRO-DPMNE President Hristijan Mickoski. This is new debt that we leave to the future generations. The entire country is held hostage to several people who continue to rob it. These are not European values,...
Economy 27.05.22 | 11:53

Grim forecast: If SDSM stays in power by the end of the year the debt will reach over 8 billion euros

The debt in 2017 was 4.7 billion euros, if SDSM stays in power by the end of the year it will be over 8 billion euros. In 5 years, SDSM increased debt of the state as much as all the governments before them together, emphasized VMRO-DPMNE. Currently the public debt is over 7 billion euros, and after...
Economy 24.05.22 | 12:56

Stojanoski: The Government will add 1.3 billion EUR to our total debt

VMRO-DPMNE member of Parliament Bojan Stojanoski warned that the Government is preparing to add 1.315 billion EUR in debt for 2022 with the proposed changes to the Government. The changes include 250 million EUR in new deficit spending, and the total new debt for the year will amount to 1.315 billion....
Economy 01.05.22 | 13:42

In five years, SDSM and DUI added as much debt as Macedonia had accumulated since its independence

The latest issue of state bonds of almost a billion EUR will ensnare our future generations and keep them in poverty, the opposition VMRO-DPMNE party said. VMRO points out that, under the SDSM – DUI coalition, even before their latest announcements, Macedonia’s debt surpassed 60 percent of...
Economy 25.04.22 | 09:44

In just 3 years, every citizen indebted for new 1,250 euros

The citizens of the Republic of Macedonia will relive the same images and events from the 90s of the last century. Increased inflation, high prices of basic food products, and low incomes, warned VMRO-DPMNE, emphasizing that poverty is growing in Macedonia. Inflation has completely eaten away the standard...
Economy 31.01.22 | 18:03

Public debt holds steady at 60.9 percent of GDP

At the end of 2021, the total public debt of Macedonia amounted to 60.9 percent of GDP, the Finance Ministry informed today. According to the Ministry, this is a reduction of 0.1 percent compared to the end of 2020. The Ministry reports that the decline amount to 3.8 percent during the third quarter,...
Macedonia 19.12.21 | 15:56

VMRO-DPMNE: Silegov and SDSM left a debt of 160 million euros to the City of Skopje

Silegov and SDSM left a debt of 160 million euros to the City of Skopje, said VMRO-DPMNE on Sunday. The city is in debt, and that is why Silegov and SDSM are the only ones to blame. Only on the basis of future liability under concluded contracts there is a debt of 58,140,165 euros. The contracts concluded...
Macedonia 16.12.21 | 11:08

“Debt billboards” put up across Tetovo

Newly elected Tetovo Mayor Bilal Kasami put up billboards with the total sum that the city was in debt when he was elected. Kasami blames his predecessor Teuta Arifi for grossly mismanaging the city, leaving him with over 24 million EUR in debt. The sum will also be displayed on a monitor on the main...
Macedonia 24.11.21 | 17:10

Mayor Kasami: Tetovo owes 24 million EUR

Newly elected Mayor of Tetovo Bilal Kasami said that the city is 24 million EUR in the red. The huge debt is outstanding toward private companies, public institutions, individuals, as well as, what he said are “suspiciously arranged contracts”. Kasami, who leads the BESA party, took over...
Macedonia Economy 24.08.21 | 12:22

S&P warns about Macedonia’s fast growing debt

The report on Macedonia by Standard & Poor’s, which affirmed the “junk” rating of BB-, warns about the country’s fast rising debt. The rating agency notes that Macedonia’s centrally issued debt will continue to grow into 2024, and will reach 58 percent of GDP, while...
Macedonia Economy 24.07.21 | 13:47

VMRO-DPMNE: The Government brags about paying back a half a billion EUR loan, while adding 1.5 billion

Macedonia will add 1.5 billion EUR in new debt only this year, and it will reach dizziying 66 percent of GDP at 8.5 billion EUR, said the opposition VMRO-DPMNE party in a press release. The statement is to respond to Finance Minister Fatmir Besimi, who was boasting about paying off the final tranche...
Macedonia Economy 09.06.21 | 19:25

Zaev addresses the dismal economic reports, claims that the situation will turn around

Following the unexpected 1.9 percent GDP drop in the first quarter of the year, Prime Minister Zoran Zaev insisted that the situation will improve in the rest of the year. Still, the result badly damages his prospects of achieving the promised 4.1 percent growth for the entire year. Zaev actually sounded...
Macedonia Economy 26.05.21 | 21:45

Where did a billion EUR go?

During his press briefing today, VMRO-DPMNE President Hristijan Mickoski asked the Zaev regime to answer what it did with a billion EUR it took it new loans that is not reflected in the GDP growth. Mickoski pointed that the public debt growth of 1,7 billion EUR delivered a GDP increase of only 700 million...
Economy 03.03.21 | 21:15

Mucunski: While the government deals with Byzantine games, Macedonia’s debt grows for another 700 million euros

VMRO-DPMNE MP, Timco Mucunski told Sitel TV said that today for five hours in the Parliament, Prime Minister Zaev dealt with Byzantine games instead of the problems of the citizens. Today in the Parliament we witnessed four five-hour Byzantine games at which in the end Prime Minister Zaev proved that...
Macedonia Economy 27.02.21 | 18:43

Nikoloski: Central Bank ban on dividend payments indicates that Macedonia is moving toward bankruptcy

The Central Bank order to commercial banks and insurance companies not to pay dividend to their shareholders indicates that the country is in serious financial trouble and faces bankruptcy, said VMRO-DPMNE Vice President Aleksandar Nikoloski. The unprecedented order came on Friday and shocked the financial...
Macedonia Economy 08.10.20 | 13:47

In three years, SDSM added two billion EUR to the debt

Under the Zaev regime, starting with mid 2017, the Macedonian public debt has increased by two billion EUR. With this, Macedonia is about to move from the rank of moderately to highly indebted country. In Q2 2017, the last quarter before SDSM’s power-grab, Macedonia had a public debt of 4.7 billion...
Macedonia Economy 06.10.20 | 10:13

Finance Minister Besimi: Public debt will reach 6.5 billion EUR – 60.5 percent of GDP

Fresh after announcing that the 2020 deficit will reach almost a billion EUR, or 8.4 percent of GDP, Finance Minister Fatmir Besimi revealed that the public debt will reach 6.5 billion EUR and surpass 60 percent of GDP. Budget amendments will leave the 2020 deficit just below billion EUR Besimi was...
Macedonia Economy 06.09.20 | 11:46

Besimi insists there is enough money to service debt payments throughout the year

Newly appointed Finance Minister Fatmir Besimi assured the public that there is enough money in the budget to cover the debt payment, the deficit and unexpected additional costs of the coronavirs epidemic. Besimi said that the budget will be able to pay out the loans that are maturing throughout the...
Economy 03.08.20 | 22:46

Massive spike in public debt is the price of SDSM’s pre-election vote buying

The one billion EUR increase in debt in just several months is proof of the massive pre-election bribery that was done by the SDSM party, said VMRO-DPMNE official Anastasija Ilievska. The shocking new report from the Finance Ministry released today showed that the public debt now stands at 6.5 billion...
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