North Macedonia: Net incurrence of liabilities, total (current LCU)

Key figures

What the numbers say

In 2024, North Macedonia's net incurrence of liabilities, total (current LCU) rose 19.23 billion on 2023 (from 44.65 billion to 63.88 billion).

Across the 18 yearly changes before that (2006 to 2023), the average change was +2.06 billion and a typical year strayed about 20.16 billion from that (the standard deviation). This year's change was 0.9 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 52.98 billion in 2020 and the biggest yearly fall was 28.95 billion in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 5.23 billion a year. A straight line explains 55% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, North Macedonia had the 37th highest value of the 55 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to North Macedonia in the 2024 ranking

• Singapore — 33rd of 55: 66.75 billion
• Morocco — 34th of 55: 66.44 billion
• Spain — 35th of 55: 65.74 billion
• Albania — 37th of 55: 48.87 billion
• Mauritius — 38th of 55: 36.29 billion
• Moldova — 39th of 55: 16.95 billion

What this measures

Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 20 values

Net incurrence of liabilities, total (current LCU) in nearby economies

• Albania — 48.87 billion (2024)
• Armenia — 399.87 billion (2024)
• Azerbaijan — 1.61 billion (2024)
• Belarus — 3.4 billion (2024)
• Bosnia and Herzegovina — 1.51 billion (2024)
• Georgia — 1.93 billion (2024)
• Hungary — 3.5 trillion (2024)
• Iceland — 113.95 billion (2023)
• Kazakhstan — 2.84 trillion (2023)
• Kyrgyz Republic

More public sector data for North Macedonia

• Military expenditure (current USD) — 374.75 million (2025)
• Military expenditure (current LCU) — 20.45 billion (2025)
• Military expenditure (% of GDP) — 1.97% (2025)
• Armed forces personnel, total — 16,000 (2020)
• Armed forces personnel (% of total labor force) — 2% (2020)
• Military expenditure (% of general government expenditure) — 5.13% (2025)
• Intentional homicides, female (per 100,000 female) — 0.96 (2023)
• Intentional homicides, male (per 100,000 male) — 2.13 (2023)
• Intentional homicides (per 100,000 people) — 1.53 (2023)

Reading data like this

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Questions people ask

What is North Macedonia's net incurrence of liabilities, total (current LCU)?

63.88 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2005?

It is up 742.17% from 7.59 billion in 2005 (11.87% a year on average, compounded). The highest value was 67.49 billion in 2020 and the lowest -18.93 billion in 2007.

How does North Macedonia rank?

37th highest of 55 economies with data for 2024.

Is the latest change in net incurrence of liabilities, total (current LCU) unusual for North Macedonia?

In 2024, North Macedonia's net incurrence of liabilities, total (current LCU) rose 19.23 billion on 2023 (from 44.65 billion to 63.88 billion). Across the 18 yearly changes before that (2006 to 2023), the average change was +2.06 billion and a typical year strayed about 20.16 billion from that (the standard deviation). This year's change was 0.9 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.LBL.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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