Bulgaria vs North Macedonia: Government debt

• North Macedonia has been higher since 2005, when it overtook Bulgaria.
• In 2025, Bulgaria ranked 129 and North Macedonia ranked 77 of 149 countries, counting from the highest.
• The IMF projection (World Economic Outlook, October 2026) puts Bulgaria at 40.9% of GDP and North Macedonia at 56% of GDP in 2031.

• Bulgaria
• North Macedonia
• Around the world

• What the government owes, as a share of the economy’s yearly output.
• Source: IMF, World Economic Outlook, October 2026.
• The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
• Ranks count the 149 countries with a value in 2025, highest first.

How the layers work, where their data comes from and what they can’t tell you: Countries through time