MF-North Macedonia: The issuance of government securities is carried out in accordance with the Budget and the published calendar

The Ministry of Finance of the Republic of North Macedonia announced that the government securities listed today on the official market of the Macedonian Stock Exchange are included in the borrowing planned on the domestic market. This issuance is being carried out in accordance with the 2026 Budget rebalancing, approved by Parliament.

According to the Ministry, the process was made public transparently through its website. The issuance was included in the calendar of government securities auctions for the third and fourth quarters, published in June this year. The auction prospectuses, which set out the terms and dates of the auctions, were also posted on the same website.

Today, the Ministry of Finance also published data on Budget implementation for the period from January 1 to July 31. The figures show that budget revenues were collected as planned and increased compared with the same period last year, while obligations were settled within the deadlines.

By July 31, total revenues under the 2026 Budget had reached 204.553 billion denars. This amount represents 53.9% of the planned figure and is 9.3% higher than in the same period last year. Tax revenues, which constitute core revenues, amounted to 117.963 billion denars, or 55.33% of the plan, increasing by 10% compared with the corresponding period a year earlier.

Within the tax revenue category, corporate income tax had the highest rate of implementation against the plan, at 62.8%. The Budget collected 16.687 billion denars from this tax, or 20.6% more than in the first seven months of 2025.

VAT revenues reached 53.026 billion denars, fulfilling 56.78% of the plan. Compared with the period from January 1 to July 31, 2025, this amount represents an increase of 13.4%. Meanwhile, 20.925 billion denars were collected from personal income tax, or 53.93% of the planned amount, representing an 11.9% increase over the same period last year.

Import duties generated 9.361 billion denars, an amount representing 56.4% of the plan and an increase of 10.3%. At the same time, companies were refunded VAT worth 23.333 billion denars. The refund was 3.5% higher than that recorded during the January–July period of 2025.

On the expenditure side, capital expenditures recorded a high level of implementation, reaching 21.288 billion denars. Compared with the level recorded in the same period of 2025, they increased by 39.6%.

A total of 49.351 billion denars was paid to settle obligations arising from old debts on the external market, while 11.665 billion denars was used to meet obligations to domestic creditors. During the same period, denationalization bonds worth 308 million denars were also paid, the Ministry of Finance said in its statement.