17th October 2024, Skopje – Procedure for disbursing the loan funds extended by the Hungarian Export-Import Bank has been completed, which are expected to be transferred on the account with the National Bank, followed by their subsequent transfer to the budget account not later than tomorrow, Minister of Finance, Gordana Dimitrieska- Kochoska, announced in her guest appearance in Alfa TV channel.
“MoF’s Department in charge informed me that all has been set, so I expect funds to be disbursed to the account with the National Bank, followed by their transfer to the municipalities and the businesses. The municipal projects to be financed have already been selected. The amount the municipalities requested for the implementation of their projects was higher than the one projected in the Supplementary Budget, whereby, it has been crucial for the projects to be in their final stages so they can contribute to the economic development as well”, the Minister said.
Pertaining to the loan funds intended for the private companies, she announced a Friday meeting with the Macedonian Banking Association at which funds allocation will be the topic of discussion. Funds will be allocated once they are transferred to the Development Bank.
The Minister announced that procedure related to the second loan from Hungary had already been underway, with the respective funds to be used for payment of the Eurobond falling due in January 2025.
In her interview, the Minister reflected on the 2025 Supplementary Budget, highlighting the focus being placed on fiscal consolidation, implying an increase in revenues and decrease of expenditures. Next year, as pointed out, the budget deficit would be projected at 4%, to be reduced to 3.5%, and fall to 3% in 2027.
2025 Budget reflects our main commitment and the promises we made as a Government, or, rather the pension increase by Denar 2,500, funds allocated to the educational sector, funds in the amount of EUR 250 million for municipal projects, as well as funds for infrastructure projects, Corridors 8 and 10d, and so forth.
The Minister also touched upon the performance of both the Public Revenue Office and the Customs Administration, underlying the VAT refund to companies on regular basis. Thus, in September, Vat refund amounted to Denar 2.250, Denar 2.116 billion in August and Denar 1.740 billion in July.
