6th October 2024 – Despite confronting all challenges, we managed to consolidate, control, stabilize, as well as project the public finances by the end of the year, with Fitch Credit Rating Agency’s affirmation of our country’s credit rating speaking in favour thereof, Minister of Finance, Gordana Dimitrieska-Kochoska highlighted in her guest appearance on Sitel TV Channel.
“It was a great challenge to overcome all outstanding past issues, which along with our credit rating being kept brought about feelings of satisfaction. This reaffirmation is relevant for the interest rates when issuing Eurobonds on the international market, as well as for drawing investors’ attention as even more important, Minister said, while also stating the significance of Fitch’s positive projections for the future, based on the planned policies, which the Ministry of Finance shared with Fitch representatives.
She clarified that Fitch’s projections were in line with the Fiscal Strategy projections, being adopted last week by the Government, while consolidation, stabilization with respect to both budget deficit and public debt were to be expected in 2025.
“We are already finishing up the 2025 Budget, which would allow for no higher deficit by 4%, growth rate between 3.5% and 3.7%, with the inflation below 3% and no increase of prices”, the Minister underlined.
She went on that growth resulted from investments, support to the private sector, municipal projects, infrastructural projects and similar, while the public debt would decrease in medium term with a higher GDP rate.
In her interview, with respect to the Budget status, she highlighted the higher budget revenue collection, particularly in the Customs Administration sector, as well as in the Public Revenue Office.
“Despite the tight timeframe, the yielded results are excellent. Customs Administration’s revenue collection increased by over 20%, with the VAT revenue collection surging by more than 15%. Positive results have been observed at all taxes, aside from a slight underperformance as regards the Corporate Income Tax”, Minister of Finance said.
She announced that the Loan Facility Agreement with the Hungarian Export-Import Bank would be signed on Tuesday, and the funds to be disbursed by the end of the week.
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