Hungarian loan of €988 million: what Mickoski told parliament and what Hungary is investigating
The prime minister says the audit confirmed the intended use, while Hungarian police are investigating decisions at Eximbank. We have not seen the audit report itself.
Prime Minister Hristijan Mickoski said during parliamentary questions on October 29 that the State Audit Office confirmed that the money from the Hungarian loan is intended for the Macedonian economy and that after six months of announced “scandals” there is not even a “K” of crime. SDSM leader Venko Filipche asked about the loan, about Alta Banka and about possible transfers from Serbia, and Mickoski described the accusations as lies and political constructions. The statements were reported by Nova Makedonija, Netpress, Libertas, Republika and other outlets. Below we separate claims from what can be checked.
What the loan is. According to European Western Balkans, there are two loans, totaling €988 million, provided through the state-owned Hungarian Eximbank during the previous government of Viktor Orbán, in two tranches. The interest rate is 3.25 percent a year, the term is 15 years, with a three-year grace period. Some sources round the amount to one billion euros.
What the money is for, according to Mickoski. For the growth of the Macedonian economy, for repaying a euro bond from the previous government, in the amount of about half a billion euros, and for support to domestic business. These are his statements.
What the audit says. We have not seen the audit report. According to reports, it was released on October 29, but its content is known in the media only through the prime minister’s statement. We therefore cannot independently confirm what exactly the audit found.
What the opposition says. Filipche linked the government to Vučić and Orbán and mentioned documents that, according to him, he has seen. No such documents have been published, so their content has not been verified.
What Hungary is investigating. The government of Péter Magyar announced on July 24 that it is reviewing four Eximbank transactions totaling €2.74 billion, among them the loans for North Macedonia. The Hungarian government estimates that interest compensation will exceed €247 million, and the loan is fully covered by a Hungarian state guarantee. According to bne IntelliNews, Hungarian police on September 1 opened a criminal investigation over suspected abuse of office and mismanagement at Eximbank. Orbán denies the accusations.
What is not stated. The reports we checked do not state any unlawful conduct on the Macedonian side, nor a reaction from the Macedonian government to the Hungarian investigation. From what we can see, the Hungarian investigation concerns the approval of financing at Eximbank, not how the money is spent here.
Overview. Confirmed by several sources: the loan is about €988 million, with 3.25 percent interest and a 15-year term. The prime minister’s claim: the audit confirms intended use and there is no evidence of crime. The opposition’s claim: links with Vučić and Orbán and possible transfers from Serbia, with no published evidence. Unknown: the full text of the audit and the end of the Hungarian investigation.
What it means. The dispute is political, and the facts sit on two sides: a domestic audit and a foreign investigation. Until the text of the audit is published and the outcome of the Hungarian investigation is known, the most useful thing is to follow which document has been published and which is only relayed in a statement.
MKNews Hub · Macedonia · October 30, 2026
