Sound Budget execution, including the solid capital expenditure execution, as well as the positive macroeconomic trends speak in favour of sound economic policies conducted by this Government, Minister of Finance Fatmir Besimi pointed out when meeting former Ministers at the occasion of marking the 29th anniversary of the adoption of the first Budget. In addition to Minister Fatmir Besimi and Deputy Minister of Finance Dimitar Kovachevski, meeting was attended by former Ministers of Finance Taki Fiti, Dzevdet Hajredini, Boris Stojmenov, Nikola Popovski, Kiril Minoski and Nina Angelovska, wherein all reforms implemented by the Ministry were presented – 2021-2025 Tax System Reform Strategy, strategy for reducing informal economy, fiscal decentralization reform, as well as the Growth Acceleration Financing Plan. Moreover, what was also indicated as another step forward in increasing the transparency was the publication of the “Fiscal Counter” on the MoF website, presenting the budget revenues and expenditures and the execution of capital expenditures on daily basis, with the general government debt presented on monthly basis.
As of first quarter inclusive, revenue collection accounted for 22.8%, with expenditures and capital expenditures execution accounting for 22.4% and 16.6%, respectively. Macroeconomic trends also move in the right direction. In January, export of goods grew by 15.4% in nominal terms, while import picked up by 5.3% in nominal terms, on annual basis. This speaks of improved developments, also demonstrating that the undertaken measures yielded results – as Besimi pointed out.
Besimi stressed that active actions are being taken, aimed at resolving the crucial issues – how to recover the economy, how to get the economy back to the growth trajectory, how to intensify that economic growth and how to attain sustainable and inclusive growth.
We have all worked and we are still working on providing better living conditions. Since I have been appointed Minister of Finance, I have committed myself to working, and we are already doing the planning and working, on the basis of the SMART concept, being based upon five principles – strategical, maintainable, accountable, reform – oriented and transparent performance. The crucial goal is to act by making plans and forecasts for a long period ahead, anticipating all outcomes, measuring the results from the point of view of performance as well as their impact on the other processes, all this being accompanied by continuous efforts to improve the transparency. New Budget Law is aimed precisely thereto, anticipating the introduction of medium-term budget planning and Integrated Financial Management Information System, to the end of better planning, establishing Registry of Public Entities and increased transparency – he pointed out.
Amid fiscal consolidation, as being underlined at the meeting, it is necessary to maintain a strengthened development component, i.e. to make capital investments, which will produce a multiplier effect in the long run.
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