11th February 2023, Skopje – Strategy we applied when issuing the ninth Eurobond was to provide funds only for covering the Eurobond issued in 2016 and the liabilities on the basis of prior debts, falling due to be repaid in in 2023, thus contributing to lower costs upon the Budget, as well as for the citizens given the fact that Eurobond was issued with a 4-year maturity deadline thereof instead of the previously set 7 -year maturity period. Thus, we remained committed to prudent and accountable public financial management, Minister of Finance Fatmir Besimi said.
“Decision to provide EUR 600 million by issuing Eurobond, instead of the whole amount set by the Government’s decision, speaks in favor of our commitment to prudent and accountable public financial management and lower costs, which are to be borne by the citizens. Successful bargain was made. We managed to reach 6.25% coupon “, Minister said in an interview for “Tema na Denot” TV Show on Sitel TV Channel.
Funds, as Minister said, provided under the Eurobond, will be used for repaying prior debt and the previously issued Eurobond, falling due in 2023. For the purpose of financing the budget deficit, as he went on, funds will be provided via IMF PLL, amounting to around EUR 157 million, EUR 71 million as EC grant, EUR 100 million as EU Macro-Financial Assistance and additional funds under other credit lines with favourable terms and conditions extended by EBRD, EIB, World Bank, aimed at implementing the respective projects. Tax reforms will also contribute thereto, whereby the new solidarity tax, not being included in the Budget, will also lead to reducing the deficit and the financing needs.
As regards the whole administration staff, he pointed out that a systemic solution is being sought, as was the case with the minimum wage and the pensions. “We aim to find a systemic and sustainable solution, which will provide for safeguarding the integrity and the living standard of the employees therein, thus being a basis for the administration professionalism,” Minister Besimi said.
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