12th November 2024, Skopje – Capital expenditures unquestionably constitute the development component, whereupon the expectations for attaining the projected economic growth are based, which will be accomplished by actual on-site implementation and proper staffing in the public administration, Deputy Minister of Finance, Nikolche Jankulovski, highlighted in his TV 24 guest appearance.
“We are talking about actual investments yielding visible effects, rather than transfers. The capital expenditures are truly our development component, we place our trust in, thus setting us apart. We detected and resolved the on-site real issues, thus making investments, which generate evident effects, such as Bitola-Prilep motorway section and Kichevo-Ohrid highway section, whereas during the following year, Tetovo-Gostivar motorway section will be extended, while also working on the Gostivar-Bukojchani, Skopje-Blace and Gradsko-Drenovo sections. By having such dynamics and staffing in the public administration – as a direct contractor, high capital expenditure execution is inevitable”, Jankulovski said, by adding that this Government is not solely focused on transferring funds to the municipalities and the contractors, without any delivered performance thereby.
He added that maximum efforts are put in implementing projects, for which funds have been extended by international institutions, with penalties of even up to EUR 20 million being paid for past failure to implement the respective projects. He added that in parallel to the implementation of these projects, actions are being taken for efficient current budget revenue collection.
Deputy Minister underlined the expectations regarding the attainment of the projected 3.7% economic growth for the following year despite the developments in Germany and the anticipated impact on the domestic economy.
“The developments in Germany are taken into account as risk factors when creating our Fiscal Strategy and 2025 Budget. This will be cushioned by the gross-investments on the home front, such as the implementation of municipal projects, support for the companies, export-oriented companies, announced investments in new and expansion of existing capacities, as well as entry of several renowned international companies, which are to introduce new technologies. We are to attain such growth by counteracting the external risks with investment implementation”, Jankulovski underlined.
With respect to the Hungarian Loan Facility intended for companies, an agreement with the banks is expected to be reached and finalized, which funds will be made available to the companies.
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