Tag: debt
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...

Economy 03.08.20 | 19:19

Hours after announcing the record breaking new debt level, the Finance Ministry scheduled a new bond auction

Hours after it was revealed that the debt spiked by a billion in the past four months, and that the central government debt is now over 50 percent of GDP, the Government announced it will borrow additional 38 million EUR. The auction is planned for tomorrow and it includes bonds that will mature in a...

Economy 03.08.20 | 16:43

Mickoski: The spike in new debt confirms we are in for very difficult times in the economy

The huge increase in debt of a billion EUR in just three months confirms one of the dark scenarios in the economy which we were warning the public about, VMRO-DPMNE President Hristijan Mickoski said today, as the shocking data from the Finance Ministry was revealed. Public debt is not at almost 60 percent...

Economy 27.05.20 | 14:07

Mickoski: Every household was pushed 1.500 EUR deeper into debt with misplaced stimulus programs

Opposition leader Hristijan Mickoski warned that every household in Macedonia will be 1.500 EUR deeper into debt by the end of the year as result of the coronavirus epidemic and the mishandling of the economic response. Most of the stimulus funds went to large companies, while small and mid sized ones...

Economy 12.04.20 | 20:21

Public debt can go as high as 70 percent of GDP, Mickoski warns

VMRO-DPMNE President Hristijan Mickoski warned that Macedonia will see a major rise in its debt under any of the various economic forecasts that are being put forward. The economic drop is now expected to be around 4 percent and could go as high as 7 percent, while the pace of lending for the year is...

Macedonia 11.04.20 | 19:20

Mickoski: With debt set to reach 65% of GDP, Macedonia has no room for error in its economic policies

VMRO-DPMNE President Hristijan Mickoski called on the SDSM led Government to enter in immediate talks with the opposition to prepare economic measures to help the economy after the expected downturn caused by the coronavirus epidemic. Mickoski said that the measures taken so far were late, insufficient,...

Economy 04.03.20 | 10:44

The only investment left is Zaev’s family growing wealth

Zoran Zaev’s policies destroyed the Macedonian economy and are leading the country into bankruptcy, VMRO-DPMNE said, recalling that Zoran Zaev yesterday added 131.6 million euros to its debt. It is a debt of a whopping € 70 for each individual, including newborns. Not only is public debt high,...

Economy 02.03.20 | 15:58

Government about to add 131.6 million EUR to the debt

The Government plans to add 131.6 million EUR to its debt tomorrow, with the latest pre-election bond auction. Under the SDSM led Government, the public debt broke through the psychological barrier of 50 percent of GDP. The leftist party strongly condemned adding to the debt while it was in the opposition,...

Economy 05.02.20 | 15:25

New debt issue worth 50 million EUR planned for next week

A new bond auction planned for next week will increase Macedonia’s debt by 50 million EUR. It’s the latest pre-election bond issue as the opposition warns that public spending is geared toward buying votes for the ruling SDSM party. The public debt surpassed the psychological barrier of 50...

Economy 24.12.19 | 17:13

Macedonia will add 270 million EUR in debt in the first half of 2020

The Finance Ministry published its plans for adding new debt in 2020, and it projects issues worth 270 million EUR in the first six months of the year. Macedonia’s public debt broke through the 5 billion EUR barrier under the SDSM Government and now stands at 5.7 billion. More than a billion of...

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