Supplementary Budget to provide more support to businesses creating jobs at the expense of government’s comfort

29th June 2017, Skopje - Supplementary Budget, being prepared at the moment, will provide more support to the business creating jobs at the expense of government’s comfort, Minister of Finance, Dragan Tevdovski, Ph.D., pointed out in his speech at the Annual Meeting of the European Business Association.

In front of the businessmen, members of EBA, Tevdovski said that financing the public debt is a challenge due to the sizable borrowing in the past 9 years.

- Our approach comprises government support aimed at reviving the economy, while the debt will be financed with as lower interest rate as possible, he underlined.

He promised to the businessmen that the new reform-oriented Government will open the communication channels with the business community, since it is very important to hear their opinions on the issues and the possible solutions.

- We are at the opinion that the Macedonian economy may be successful if the business climate is eased, without any political pressures and penalties, and the adoption of laws is predictable and in consultation with the business community, he said.

At EBA Annual Meeting, Vice Prime Minister in charge of Economic Affairs, Koco Angusev, said that foreign investors in Macedonia were supported with 10% to 50% budgetary funds in their investments, thereby some of them being extended funds for each job created, however their cooperation with the domestic companies accounted from 0% (zero) to 1%.

In his speech, Angusev said such practice will be changed.

- The Government will continue supporting the foreign investors, however, depending on their interaction with the Macedonian businesses. If only foreign investments are encouraged, but not the Macedonian economy, such model cannot be sustainable on the long run. All foreign investors should be protected to the maximum, feel pleasantly and do their business comfortably. They are all welcome, however, interaction between them and the Macedonian businesses is of great importance, Angusev underlined, saying that the criteria have to be equalized. He would be satisfied if during his term of office cooperation between foreign investors and domestic companies reaches at least 10%.

He announced that the full report on government support to foreign investors in the zones would be published in around a month.