2nd July 2024, Skopje – Supplementary Budget is still not fully designed, however, I could tell that the projected revenues and expenditures will remain at the same level, without changing the deficit in absolute terms,

Minister of Finance, Gordana Dimitrieska-Kochoska stated in her guest appearance in “24 Analiza” TV Show, thereby pointing out that cuts will be made as regards non-priority expenditures, while reallocating funds towards projects generating greater effects.

“Supplementary Budget has been already outlined, by identifying the needs and the priorities and recognizing the omissions when planning and preparing the 2024 Budget.  Priority will be given to settling all liabilities incurred by law, such as the Collective Agreement in the field of Higher Education and Science, as well as the pensions, with respect to which, there is shortage of budget funds for realizing the announced linear increase and similar”, Minister of Finance said.

She underlined that there is room for making cuts on certain budget positions, which funds will be reallocated. She also added that funds will be repurposed from capital investments. Funds are being kept in earmarked accounts, while the respective projects are without completion. Denar 45.2 billion is projected, with Denar 12.9 billion being executed therefor. As of 30th June, cuts will be made from capital projects, amounting to EUR 20 million, which implementation level is below 40%, Dimitrieska-Kochoska explained, thereby stressing that the additional cuts, which are to be made will pertain to the P1 Program – Measures to Deal with COVID-19 Crisis and Other Anti-Crisis Measures, given that no realization has been recorded since the beginning of the year.

She also pointed out that Budget Circular will be handed over to the budget users and spending units, which should submit a reply thereto within two days as per their needs, on which basis, the Supplementary Budget will be additionally refined.

As for the tax policy, she pointed out that taxes will not be increased, while the business community will be provided with environment conducive to investing. As for the public debt and the borrowing, she indicated the raising of the issue related to the Eurobond repayment, which falls due in January 2025 in view od deciding whether new Eurobond should be issued or whether the announced EUR 1 billion loan is to be used therefor.

Minister was a guest in this TV Show together with the President of the Organization of Employers, Angel Dimitrov and the Journalist, Mirche Jovanovski.

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