27th June 2024, Skopje – In an interview for BIRN, Minister of Finance, Gordana Dimitrieska-Kochoska revealed the purpose of the announced funds amounting to EUR 1 billion, also indicating the continuation of “MojDDV” Project, as well as the budget policy, which is to be implemented.
“Some of the funds will be intended for the private sector. In other words, EUR 250 million out of them will be made available to the private sector by the Development Bank via the commercial banks. Private sector will, in turn, bear certain responsibility in case the funds are employed thereby, such as for instance increased quantity production, etc. Thus, loans will be extended to the private sector under favorable terms and conditions. Remaining EUR 750 million will be used for financing capital projects, such as Construction of Kichevo – Ohrid Motorway Project and the highways constructed by “Bechtel and Enka”, needs of the Army of North Macedonia as per NATO requirements, the projects related to municipalities and digitalization”, Minister of Finance said.
Minister explained that the decision to make a borrowing via an agreement with a Government of another country rather than via the international financial market, was made by reason of the favorable terms and conditions under which these funds were extended, with exceptionally low interests in times when they are extremely high.
As regards the budget policies to be pursued, Dimitrieska- Kochoska stressed that the budget revenues will be increased owing to the positive economic performance, while also combatting the informal economy. She thereby added that cuts should be made as regards the non-productive expenditures, whereby substantial funds will be invested in capital projects, which will be beneficial for the citizens.
“We will stand in the way of crime and corruption, which will result in making considerable savings”, Minister of Finance pointed out.
