13th November 2018, Skopje – Highest amount of funds so far has been projected in the Draft 2019 Budget for active employment measures. Denar 1.1 billion is allocated, being by 10% more in relation to 2018. If compared with 2016, this amount is increased by twice, i.e. it is almost three times higher in relation to 2014.

As Minister of Finance, Dragan Tevdovski, pointed out at yesterday’s public presentation of the draft Budget, implementation of these measures created conditions for better functioning of the labour market, as well as contributed to job creation. As per the projections for next year, unemployment is expected to drop by around 20% and nominal net wage to increase by 4.5%.

In addition, as Minister of Finance underlined, increased competitiveness of the private sector remained to be priority of the Government. Therefore, more funds for supporting the private sector are projected in the 2019 Budget. Denar 3 billion or 40% more funds are projected compared to this year.  Funds will be used to support new investments, export and entering new markets, job creation, SMEs, innovations, technological development and foreign investments in technological industrial development zones.

Companies will be refunded VAT in a timely and non-selective manner, like so far, Minister of Finance said.

Funds are also projected in 2019 Budget which are to considerably support agriculture. Priority measures within the 2019 Program for Financial Support to Agriculture will be aimed at subsidizing up to 30% when procuring fuel for agricultural machinery or “green oil”. Such measure is being introduced in the Republic of Macedonia for the first time, thus contributing to reduction of farmers’ costs.

Subsidies projected in the 2019 Budget amount to Denar 8.5 billion, being by Denar 60 million more compared to the amount budgeted in 2018, but even higher by Denar 820 million or by 11% compared to the subsidies paid in 2017.

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