Macedonia’s public debt sky high at 7.4B euros


Macedonia’s public debt in three months has increased by 213 million euros reaching 64.4% of GDP, the Ministry of Finance announced hidden between tabs on the website, so that no one could find it. 

This information was smuggled, without any public notification, in the middle of an extended weekend, by the institution that is promoted to be the most transparent.

With this, the public debt reached 7.4 billion euros, or 2.7 billion euros higher than in 2016. This government plans to continue to indebt the people. Next year, they plan to increase public debt to 8.5 billion euros, or almost 66% of GDP, according to the 2022-2026 Public Debt Management Strategy. 

This means that each four member family will be indebted for 17,000 euros next year. And, no one will get anything. The capital investments are realized with a miserable 30% in seven months, and at the same time cars and furniture are procured and party activists are employed in the public administration. Billions in debt and not a single project is underway, even the potholes in the roads remain. Where do the money go?