Home North Macedonia Government Government Debt to GDP

North Macedonia Government Debt to GDP

General government gross debt as % of GDP  GGXWDG_NGDP

52.86% −1.97% (-3.6%)
Year 2025 Rank #97 Global Peak 54.83% (2024) Source IMF WEO

North Macedonia Government Debt to GDP (1999–2025)

Overview

North Macedonia's government debt to gdp stood at 52.86% in 2025, a decline of +1.97% from 2024. The IMF projects 52.86% by 2025. North Macedonia ranked 97th globally.

Data & projection

Year Government Debt to GDP YoY change Rank
2030* IMF 55.54% - -
2029* IMF 55.78% - -
2028* IMF 55.58% - -
2027* IMF 54.75% - -
2026* IMF 53.90% - -
2025* IMF 52.86% - -
2025 52.86% −1.97% #97
2024 54.83% +4.01% #92
2023 50.83% +0.38% #85
2022 50.45% −2.30% #85
2021 52.75% +1.90% #85
2020 50.85% +10.40% #79
2019 40.45% +0.02% #64
2018 40.43% +1.04% #69
2017 39.38% −0.34% #63
2016 39.72% +1.72% #66
2015 38.00% −0.04% #70
2014 38.04% +4.00% #86
2013 34.04% +0.38% #79
2012 33.66% +5.93% #80
2011 27.73% +3.46% #60
Show all years (1999-2025)
* IMF World Economic Outlook projection

Detected Pattern

Export Boom Cycle
Current account surplus with strong export growth (>15% YoY), reserve accumulation, and moderate GDP growth. Typical of commodity exporters during price surges.
Reserves YoY +21.7% GDP growth 2.6% C/A balance 0.3%
Occurred 768 times, 546 successful
Reserves YoY
+25.6%
GDP growth
4.0%
C/A balance
14.5%
Reserves YoY
+14.6%
GDP growth
3.7%
C/A balance
2.9%
Reserves YoY
+12.8%
GDP growth
43.8%
C/A balance
16.4%
Reserves YoY
+12.6%
GDP growth
6.0%
C/A balance
0.5%
Reserves YoY
+38.3%
GDP growth
5.0%
C/A balance
1.2%
Reserves YoY
+18.0%
GDP growth
2.9%
C/A balance
3.9%

Analysis

North Macedonia matched the Export Boom Cycle pattern in 2023. Historically, 71% of countries showing this pattern (546 out of 768) saw government debt to gdp improve within 24 months. View full analysis →

Frequently Asked Questions

What is North Macedonia's government debt to gdp?

North Macedonia's government debt to gdp was 52.86% in 2025. Ranked 97th globally. This represents a 3.6% decrease from the previous year.

What was the highest government debt to gdp in North Macedonia?

North Macedonia's government debt to gdp peaked at 54.83% in 2024.

What was the lowest government debt to gdp in North Macedonia?

The lowest government debt to gdp in North Macedonia was 20.64% in 2008.

How does North Macedonia rank in government debt to gdp?

North Macedonia ranks 97th globally in government debt to gdp as of 2025.

What is the World Bank indicator code for government debt to gdp?

The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.

What is the projected government debt to gdp of North Macedonia in 2025?

North Macedonia's government debt to gdp is projected to reach 52.86% by 2025 based on IMF projection.

What is the government debt to gdp of North Macedonia in 2025?

The government debt to gdp of North Macedonia in 2025 was 52.86%. This ranks 97th in the world.

Cite this page

APA
North Macedonia Government Debt to GDP. HistorySaid. Retrieved April 1, 2026, from https://historysaid.com/north-macedonia/government-debt-to-gdp
BibTeX
@misc{historysaid_north-macedonia_government-debt-to-gdp, title = {North Macedonia Government Debt to GDP}, url = {https://historysaid.com/north-macedonia/government-debt-to-gdp}, publisher = {HistorySaid}, year = {2026} }