North Macedonia to fund budget via domestic market through 2026

North Macedonia's Minister of Finance, Gordana Dimitrieska-Koçoska, has announced that the country's budgetary needs through the end of 2026 will be primarily financed through the domestic market. This strategy involves the issuance of government bonds and the refinancing of matured obligations.

A key component of the government's plan includes the issuance of new citizen bonds, an instrument that allows the state to borrow directly from its citizens. This approach aims to diversify financing sources as the government seeks to rely more on the domestic market while international financing costs remain high. Additionally, the state plans to issue a new eurobond on international financial markets next year.

To manage budget constraints, the government is also implementing cuts to capital expenditures. Official fiscal projections indicate that approximately 400 million euros will be allocated for debt service, specifically for interest payments.