21st July 2022, Skopje – Ministry of Finance is in the process of intensively working on designing and preparing measures to support the citizens and the business sector, which are to be applied in the second half this year. The process includes consultations with the international financial institutions, with the experience of other countries also taken into account. Joint meeting took place today at the Ministry of Finance between the Minister of Finance, Fatmir Besimi, and its team and the business community representatives, discussing the measures and the policies planned, as well as the goals of the 2022 Supplementary Budget, which the Parliament adopted.
Interlocutors agreed that this crisis has a strong impact and each and every one should recognize it and share the burden. As said at the meeting, it is not a race over short distances, but rather one requiring long-term viable solutions. Therefore, measures should be targeted at those most affected by the crisis.
“Our approach involves inclusiveness of all stakeholders. This is a period we are faced with crisis and it is to be clearly said that it is a matter of a large external shock we are to adjust to, respond to the challenges and manage public finance responsibly”, Minister of Finance said.
He presented the goals of the Supplementary Budget to the attendees, emphasizing the support to the business sector, as well as all activities that are being undertaken so as to respond, with targeted measures, in the coming period to the challenges posed by the crisis.
“Support in the amount of Denar 4.7 billion, or EUR 76 million is projected in the Supplementary Budget as anti-crisis measures, which will be targeted towards the most affected categories of citizens and businesses. Additional support, as financial resources for the economy, includes the following: projected higher amount for investment support, funds available for the companies under favourable terms and conditions from the Development Bank credit lines, EUR 100 million being negotiated with EIB at the moment, as well as TIDZ programs, Law on Financial Support to Investments, capital investments envisaged in the Budget, projected in the amount of EUR 520 million, being at historic high”, Minister Besimi said.
He went on by saying that when creating the policies, cooperation with the private sector is of exceptional importance for the Ministry of Finance. They are to both jointly respond to the challenges posed by the energy crisis.
Representatives of the largest Chambers of Commerce in the country welcome the so-far measures and policies implemented by the Government when managing the crisis, sending out a message that the support to companies is of great significance particularly in the coming period, since they are the source of revenues for both the citizens they employ and the Budget.
They pointed out that the emphasis should be put on the electricity support, since the businesses cannot sustain the energy blow for a long now. Tax policy was also discussed, as well as the wage increase pressure, underlining also the importance of the IT sector registering a growth amid crisis.
The meeting, initiated by the Minister of Finance, was attended by representatives of the Chamber of Commerce of North Macedonia, the Chamber of Commerce of North-West Macedonia, MASIT and the Macedonian Chambers of Commerce, as well as the Directors of the Public revenue Office and the Customs Administration, and representatives of the Prime Minister’s Office.