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Macedonia’s mounting national debt has been in the news and a matter of concern for the region and wider for several years. The country has been listed as one of Europe’s poorest time and again over the past decade, with about a third of its population living below the poverty line and the government struggling to keep the national economy barely afloat.
On Tuesday, the government announced the second quarterly decrease in the country’s national debt. Albeit minor, these decreases may lead to the first annual decrease in national debt for the country since 2008.
As of yesterday, Macedonia’s public debt, amounted to €4.69 billion for the third quarter this year, representing 45.8% of the country’s GDP or a decrease of €16.8 million in absolute terms, translating into a decrease of 0.2% compared to the previous quarter.
This decrease in public debt, according to the Ministry of Finance, is due to the repayment of liabilities for external debt in the total amount of €101.9 million. The current government plans to continue this trend in the near future and end the year with an overall annual decrease.
Feature image source credit: Meta.mk