21st October 2024, Skopje – It is expected for gross investments to play major role in boosting the economic activity, and its gradual intensification in the medium run, as pointed out by Deputy Minister of Finance, Nikolche Jankulovski in an interview for Bloomberg Adria.
“As per the new 2025-2029 Fiscal Strategy, gross investments will be key driver of economic growth. During this period, investments are expected to grow with 7.8% average rate. Thereby, scaled-up capital investments as foreseen in the Budget will be the driver of gross investments, accounting for 4.7% on average compared to the approximate 3% in the previous period. Investments in efficient infrastructure projects will have particular impact in view of boosting the competitiveness and developing the business entities, as well as attracting new foreign investments”, Jankulovski said.
She stressed that Ministry of Finance puts maximum efforts for improving the macroeconomic stability and supporting the economic activity, which will be made possible by gradual fiscal consolidation, improved public finance management and maintenance of high level of capital expenditures.
She underlined that tax policy mindful of low tax rates, will keep being pursued with no plan on increasing the taxes.
“Government will implement disciplined fiscal policy, to be based upon reduced informal economy, non-selective and regular collection of Budget funds, coupled by fiscal consolidation as well. If we prefer real capital investments, economic performance, tax exemptions, subsidies and reduced public debt, all budget users will have to abide by this Fiscal Strategy”, Deputy Minister said.
He thereby added that as a result of the gradual fiscal consolidation, public debt is supposed to record moderate drop in 2025.
