Filipçe warns of public debt rising to €12 billion: The economy cannot withstand this level of borrowing

At a press conference on the second budget rebalance for 2026, SDSM leader Venko Filipçe said that public debt had risen from €8 billion to nearly €12 billion within two and a half years.

According to Filipçe, Mickoski’s government has taken on €4 billion in new debt, but citizens have not benefited from it, while the interest payments will also burden future generations.

“In approximately two and a half years, total government debt has increased by 50 percent, from €8 billion to nearly €12 billion. Most of this increase, nearly €4 billion, comes from new borrowing. This is the highest level of debt since the country gained independence in 1991. Citizens have seen nothing good,” Filipçe said.

He said that if these amounts had been used to improve people’s lives, citizens would be seeing higher wages, greater support for agriculture, assistance for students and young people, and better-quality healthcare and education services. However, according to him, the increase in debt has not brought any visible benefits.

“There should have been a better standard of living and higher wages, greater agricultural subsidies and increased income for students through food or other resources. There should have been measures encouraging young people to stay in the country, as well as qualitative improvements in healthcare and education. But none of this is happening. No one has seen any benefit from this massive increase; there are only debts and interest payments, which who knows how many future generations will have to pay,” he said.

The SDSM leader warned that public debt would reach €12 billion. If the liabilities of public enterprises are also taken into account, including the Public Enterprise for State Roads, debt will exceed 63% of gross domestic product.

Filipçe added that the economy was not in a position to withstand such a level of borrowing.

He pointed out that the second budget rebalance raises further questions about the results of borrowing: capital investment is declining, while the deficit remains high. According to him, instead of the money going toward development projects and improving living standards, the rebalance is also being used to cover budget shortfalls./Telegrafi/