1st November 2024, Skopje – 2025 draft Budget, being submitted to the Parliament on Friday, incorporates new changes as regards capital expenditure planning and execution. They are projected in the amount of Denar 50.6 billion, as funds in support of projects, rather than transfers covering other costs, Minister of Finance, Gordana Dimitrieska-Kochoska pointed out at today’s press conference.
– Under the 2025 draft Budget, Denar 50.6 billion are projected as capital investments. In addition to the projects related to Corridors 8 and 10d and the municipal projects, priority is placed on the Public Sector Energy Efficiency Project, the Western Balkans Trade and Transport Facilitation Project, the Social Insurance Administration Project, the Agriculture Modernization Project, the Regional Solid Waste Project, the Water Infrastructure North Macedonia Project, the Reconstruction of Penitentiary Institutions Project and similar. As regards the education sector, in addition to the reconstruction of student dormitories, the completion of the construction of schools and sports halls is planned, already undergoing negotiations,” Minister Dimitrieska-Kochoska said.
By sharing the data on the capital expenditure execution in the previous years, she underlined that they did not actually amount to more than Denar 15 billion, given that transfers were presented as capital expenditures, accompanied by poor performance of the planned projects on top of that, thus resulting in low growth rates in the past.
“We are amending this policy, with the growth rate being based on real investments. What makes the 2025 draft Budget distinguishable is that capital expenditures are intended for real investments. Transfers have been no planned for AD ESM. Transfers to certain public enterprises have been projected in much less amount or have been reallocated to other budget positions”, Minister pointed out.
She stressed that as per the draft Budget, the deficit is projected at 4% of GDP, increased funds have been projected for payment of wages, pensions, healthcare, social allowances and similar.
She also stated that there are ongoing discussions with the commercial banks about making available the planned EUR 250 million from the Hungarian loan facility to the companies as funds provided under favourable terms and conditions, with the fixed interest thereon accounting for 3.25%. Discussions about repayment terms and conditions are still ongoing.
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