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21st February 2022, Brussels – Energy crisis and inflation, as well as the measures the Government has been undertaking, and the possibilities for supporting the implementation of such measures by the EC, were points of discussion at today’s meeting between the Minister of Finance, Fatmir Besimi, and the Commissioner for Economy, Paolo Gentiloni, which took place within Minister Besimi’s working visit to Brussels.

-As during the pandemic, when we created and implemented sets of supporting measures for the health sector, the economy and the vulnerable categories, which have provided for GDP decline to be mitigated by 4.2% in 2020, we have been proactive as regards the energy crisis as well, Minister of Finance said at the meeting.

He pointed out the measures the Government has been undertaking to cope with the energy crisis and the budget funds allocated as liquidity support for the energy companies, thus indirectly preventing a large increase in the price of electricity on the regulated market. He also mentioned the reduction of VAT on electricity to 5%.

-Our medium-term priorities will be geared towards coping with the consequences from the health and the energy crisis, by scaling up investments through direct support of investment activities of companies, promotion and facilitation of the investment climate, job creation through active employment measures, as well as support and development of micro, small- and medium-sized enterprises.

Such support will be implemented by establishing development funds, innovation support funds, guarantee funds, venture capital funds and similar instruments for support of export-oriented companies, small- and medium-sized enterprises, as well as social enterprises, the Minister underlined.

2022-2026 Fiscal Policy is geared towards further strengthening of public finance management and fiscal sustainability, which are to contribute to maintaining the macroeconomic stability, gradual fiscal consolidation, accelerated economic growth, as well as enhancing the growth potential of the national economy.

Economic recovery in 2021 is expected to intensify the economic growth in the coming years with 5% average annual growth rates.

Within the working visit to Brussels, Minister Besimi will meet Commissioner for Neighbourhood and Enlargement, Oliver Varhelyi, Acting Director-General – Directorate General Neighbourhood and Enlargement Negotiations, Maciej Popowski, and Commissioner for Budget and Administration, Johannes Hahn.

Also available in: Macedonian Albanian

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