North Macedonia Government Debt to GDP
General government gross debt as % of GDP GGXWDG_NGDP
North Macedonia's government debt to gdp was 52.86% in 2025, ranked 97th globally. This represents a 3.6% decrease from 2024. Data from IMF WEO, covering 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.
North Macedonia's government debt to GDP ratio has seen a significant rise over the past two and a half decades. The all-time high of 54.83% in 2024 marks a notable increase from the 20.64% recorded in 2008, a year that coincided with the global financial crisis. This steep growth suggests a concerning trend for the country's fiscal stability. Currently, North Macedonia's debt to GDP ratio stands at 52.86%, ranking it 97th globally. A comparison with its peer countries reveals that North Macedonia's debt burden is comparable to that of Burkina Faso, which has a debt to GDP ratio of 53.18%. This relatively high ratio poses challenges for the country's economic growth and future financial sustainability. If North Macedonia is to alter its trajectory, it would need to implement effective fiscal consolidation measures, such as reducing government spending or increasing revenue through tax reforms, to stabilize its debt to GDP ratio and ensure a more sustainable economic future.
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 |
Detected Pattern
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
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.
North Macedonia's government debt to gdp peaked at 54.83% in 2024.
The lowest government debt to gdp in North Macedonia was 20.64% in 2008.
North Macedonia ranks 97th globally in government debt to gdp as of 2025.
The World Bank indicator code is GGXWDG_NGDP. Data sourced from IMF WEO.
North Macedonia's government debt to gdp is projected to reach 52.86% by 2025 based on IMF projection.
The government debt to gdp of North Macedonia in 2025 was 52.86%. This ranks 97th in the world.
Cite this page
@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}
}