14th March 2021, Skopje – “Fiscal Counter” is the new transparency tool of the Ministry of Finance producing high-frequency data, presenting the budget revenues and expenditures and the execution of capital expenditures on daily basis, with the government debt presented on monthly basis. The purpose of the tool, published on the Ministry’s website, is to continuously increase Budget openness to the public, all to the end of achieving even higher level of fiscal transparency.
-Fiscal transparency is the highest level of public finance oversight, considering that information creating public opinion are made available, which opinion has a high level of corrective power on the other hand. Creating a better public finance system also comprises, in particular, the existing activities aimed at improving the fiscal transparency. “Fiscal Counter” is a tool contributing thereto. It shows the collected budget revenues and the expenditure side of the Budget on daily basis, i.e. the accumulated collected revenues and executed expenditures from the beginning of the year up to the specific date of announcement, as well as the performance in relation to the projections. In addition, the tool produces high-frequency data on execution of capital expenditures, thus pressuring all institutions towards better performance. The “Fiscal Counter” also provides for monitoring the government debt on monthly basis – data being published quarterly so far. This tool provides high-frequency data not made available to the public previously, all to the end of better insight in budget revenue collection and budget expenditure execution, Minister of Finance, Fatmir Besimi, said.
Before long, the Ministry will present a new tool which will create greater predictability as regards the business environment from the point of view of the tax regulations – Tax Calendar will be published, i.e. a plan of legal amendments to the tax regulations, an idea which has arisen from the continuous dialogue with the Chambers of Commerce.