26th February 2021, Brussels – “Ministry of Finance is intensively working on preparing the project for introducing Integrated Financial Management Information System (IFMIS), expected to be supported by World Bank Group and the European Commission, under the second Instrument for Pre-Accession Assistance (IPA II). Project is exceptionally important for public finance management since it will provide for integrated monitoring of expenditures and revenues from their planning and projections to their final performance and execution, thus improving the public finance management” – Minister of Finance, Fatmir Besimi pointed out at the meeting with the World Bank Country Manager for Kosovo and North Macedonia, Massimiliano Paolucci. What was pointed out at the official meeting held in Brussels on 25th February 2021, was that the introduction of this system will lead to resolving many fiscal challenges, as well as realistic planning and projections and higher level of realized capital investments
“Measures and policies undertaken to the end of supporting sustainable and inclusive growth are crucial amid conditions when we face the most severe economic crisis ever by far. The main focus must be placed on the fiscal policy in the response to the COVID-19 -induced crisis” – Besimi pointed out.
Realization of the World Bank’s 4-year Country Partnership Strategy was also considered at the meeting, whereby it was pointed out that the implementation of the Local Roads Connectivity Project is expected to start soon. At the same time, the Law on Borrowing for North Macedonia Public Sector Energy Efficiency Project, amounting to EUR 25 million, is in parliamentary procedure, which will provide for realizing the North Macedonia Public Sector Energy Efficiency Project. Project will be implemented through the Project Implementation Unit within the Ministry of Finance, aimed at improving the municipal services – MSIP, with World Bank support.
What was also discussed at the meeting was the Agriculture Modernization Project, amounting to EUR 50 million, EUR 46 million out of which is a loan from the World Bank, and EUR 4 million is EU grant, the implementation of which will start upon adopting the Law on Borrowing, being also under parliamentary procedure. Meeting was, among the other, also assessed as exceptionally important from the aspect of the discussions about the government priorities in the medium run and the possibilities for their co-financing.
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