9th December 2021, Skopje – Budget funds amounting to approximately Denar 5.4 billion will be reallocated, geared towards scaled-up capital investments, health sector, overcoming the energy crisis, agriculture and rural development-related subsidies, scholarships and students’ dormitories, as Minister of Finance, Fatmir Besimi pointed out, elaborating the Decision on Reallocation of Funds among Budget Users and Funds, adopted in the Parliament, on Thursday.
Decision on Reallocation of Funds is in line with the established CAPEF mechanism, monitoring the execution of capital expenditures.
“Under the Decision, Denar 930 million are provided as financial support to AD ESM, aimed at overcoming the energy crisis. Additionally, Denar 780 million are allocated for settling the liabilities towards farmers on the basis of subsidies intended for agriculture and rural development. Denar 741 million are allocated for the health sector, comprising the funds intended for the public health institutions, full coverage of health insurance-related costs, procurement of CIOVID-19 vaccines, pharmaceuticals for rare diseases, and similar. Furthermore, Denar 300 million are provided for the agriculture, among which the implementation of the projects for constructing the Dams Konsko, Recani, Hydrosystems Raven Recica, Zletovica, as well as funds for closing the Irrigation of the Southern Vardar Valley Project, Besimi said.
At the same time, Denar 166 million are allocated for completing the Project of Housing of Vulnerable Groups, Denar 260 million for TIDZ and Denar 418 million as financial support for state-owned companies affected by COVID-19 crisis.
Funds have been provided under the established CAPEF mechanism, introducing the principle of “awarding and punishing” of budget users. In line with this mechanism, budget users are obliged to execute 15% of the capital expenditures as of the first quarter inclusive, 40% as of the second quarter inclusive, 65% as of the third quarter inclusive, i.e. 70% of the capital expenditures as of 15th November inclusive.
Decision will provide for improved 2021 State Budget execution, within the deficit projected for the current fiscal year, Minister said.
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