2nd July 2021, Skopje – Republic of North Macedonia and Republic of Albania work on better mutual networking via projects in the field of energy, infrastructure, as well as through trade facilitation. Activities focused on the interconnection have already been undertaken, whereby many activities pertaining to Corridor VIII, i.e. road rail connection with Albania have already been undertaken. Activities and opportunities were the topics discussed between Minister of Finance, Fatmir Besimi and Minister of Finance and Economy of Republic of Albania, Anila Danja, at the meeting held on the margins of “Prespa Forum Dialogue” , which took place in Ohrid.
As for road part of Corridor VIII, works have already been undertaken for Kicevo-Ohrid section, whereby Memorandum of Understanding was signed, pertaining to the project preparation and construction of road sections Tetovo – Gostivar – Bukojcani and Trebenista – Struga – Kjafasan.
Ministry of Finance has, together with the competent institutions, undertaken activities for providing funds for financing the Project Construction Works of the Railway Section Kicevo – Border with Abania, i.e. the first phase covering Kicevo – Struga section.
Mutual action plan for trade and transport facilitation on the Western Balkans means developing regional Western Balkans – Trade and Transport Facilitation Project, which will implement the activities, identified in each country. Project is of regional nature, and its initial stage will include North Macedonia, Serbia and Albania, to be further joined by Bosnia, Montenegro and Kosovo.
National one-shop system with upgraded EXIM and CDEPS modules, is envisaged to be put into place, as well as improvement of the border crossings and terminals at Deve Bair and Kjafasan. Agreement for Establishing Mutual Borders and Customs Controls at the Border Crossings between Republic of North Macedonia and Republic of Albania, was signed and the construction works are expected to be performed in the 2022-2023 period.
What was also underlined at the meeting were the commitments to fiscal consolidation of the Republic of Macedonia, as well as doubling the economic growth and attaining annual GDP growth rates of around 5%.
Ministry of Finance is in the final stage of preparing the Growth Acceleration Financing Plan, which will be soon presented to and discussed with the public. The Plan addresses the new ways of access to capital to finance the recovery and the acceleration of the economic growth through projects in both the public and the private sector. The purpose of the Plan is to scale up the total investments in the economy, thereby staying on the set path to reduce the fiscal deficit in the medium term and to maintain stable debt level.
The essence of the Plan is to produce a multiplying effect by creating and using new mechanisms, instruments, funds and sources of financing, i.e. in addition to the planned public investments amounting to around EUR 4 billion for the period 2021-2025 financed from the Budget, IPA funds and by international financial institutions, much more funds and investments from the private sector to be mobilized.
The Plan involves establishment of development funds, innovation support funds, guarantee funds, equity funds, venture capital funds and similar instruments for support of export-oriented companies, small- and medium-sized enterprises, as well as social enterprises.
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