28th October 2024, Skopje – 2025 Budget will include a development component, but the social component will not be disregarded either. Capital expenditures will be projected at over Denar 44 billion, while both budget deficit and GDP growth projections are set out in the Fiscal Strategy, Minister of Finance, Gordana Dimitrieska- Kochoska, pointed out in her guest appearance in the newscast on MRT TV channel.
“It is a development budget, since the country’s future is in its development, i.e. higher development brings increased quality life to all. Social component cannot be completely excluded. Greater control is envisaged, but if we want to reduce its share, something is to be undertaken. To that end, measures are envisaged to requalify social assistance beneficiaries for them to get a job. In addition, more focus will be put on digitalization of the process in the Ministry of Social Policy, Demography and Youth”, the Minister said, adding that some of the projections included in the 2025 Budget were presented with the adoption of the Fiscal Strategy, i.e. 4% budget deficit and 3.7% GDP growth.
“All envisaged within the Budget will be implemented. Capital expenditures are projected to approximately over Denar 44 billion which, considering the circumstances, is a substantial amount. Unlike the previous Governemnt, we will focus on quality projects, such as the municipal projects for which agreements have already been signed. We will not withdraw from accomplishing the projected economic growth, since our focus is on supporting investments. When talking about investments, we mean their actual implementation, as I have also confirmed at the meetings with IMF and WB high officials in Washington”, the Minister underlined, adding she expected greater dynamics with the projects related to Corridors 8 and 10d, with their implementation taking longer than the initial planned 4 years, being also welcomed by the IMF.
She emphasized that wages in the education and the health sector will increase, while as regards the minimum wage, it should be linked to the productivity.
With respect to public debt, she said it would likely account for 64%, however, it would depend on the execution at the end of this year, i.e. the liabilities falling due.
