News|

18th November 2021, Skopje – 2022 Budget is better structured. Capital investments amount to EUR 615 million, accounting for 14% of the total expenditures, budget deficit is reduced from 6.5%, as projected this year, to 4.3% in 2022, being lower than the projected capital investments,

Minister of Finance, Fatmir Besimi, said at Ekonomski Magazin show on TV Alsat, pointing out that execution of capital expenditures improved not only as a percentage, but also in terms of their nominal value, amounting to EUR 262 million in 2020, increasing to EUR 391 million in 2021 Budget, and to EUR 485 million with the 2021 Supplementary Budget, up to EUR 615 million being allocated therefore in 2022 Budget.

In addition to the scaled-up capital investments, the Minister underlined that it is also important to undertake activities to strengthen their implementation.

-Envisaged investment cycle will drive the economic growth on the medium term, fiscal consolidation is ongoing, as well as institutional reform as regards project management at national level and their implementation. Technical assistance will be provided for project preparation and implementation, and special units are and will be established at the Prime Minister’s Office as regards strategic projects, the Cabinet of the Vice Prime Minister in charge of Economic Affairs as regards monitoring and the Ministry of Finance as regards evaluation, the Minister said.

He also addressed the results achieved with the CAPEF mechanism being put in place, with respect to the execution of capital expenditures, accounting for 56% since the beginning of this year, being higher compared to the previous years, when their execution accounted for below 50% during the same period.

-Despite all the challenges we faced last year, capital expenditure execution accounted for 81%, being higher in relation to the previous years, even in relation to the best years in the last two decades. Therefore, Growth Acceleration Plan has been prepared, which envisages new instruments to support the projected growth of 4.6% in 2022, with the investment cycle in the coming years driving the economic growth, Minister of Finance, Fatmir Besimi, pointed out.

Also available in: Macedonian Albanian

Leave a Reply

Your email address will not be published.

Close Search Window