19th November 2024, Skopje – Communication with the banks proceeds. The banks are expected to provide their stance regarding the interest rate in view of being lower than 3.25%, while also determining certain nuances with respect to the criteria, as highlighted by the Minister of Finance, Gordana Dimitrieska-Kochoska, in her guest appearance in TV Sitel, whereby she stressed that no issues emerged during the talks with the banking sector, with the exception of the repayment period. However, a common ground was reached.
“We could not reach an agreement on the repayment period with the banking sector, since each bank has its own internal procedure of reaching a decision depending on whether it refers to equipment or civil engineering construction. The objective was to come to a consensus on the time periods, i.e. for them to accept the same terms and conditions under which the loan facility was extended, i.e. a three-year grace period and a 15-year repayment period, by manner of which they would avoid transfer of clients from one bank to another. With respect to the interest, the Government strives for reaching a joint solution with the Banks, so they could bear some social responsibility, all to the end of fostering scaled-up investments. That was the Prime Minister’s intent, and, to that end, he required from the banks to partially subsidize the interest rate. If we are to look at all the credit lines extended through the Development Bank, they were actually subsidized by the Government, including the most recent one, being adopted by the previous Government on 25th July 2023, which allowed for 1 percentage point interest decrease, being financed by the banking sector. Our offer was no more different than any previous ones agreed with the Development Bank. Prime Minister made a new proposal and we are to await for the banks’ response. It is certain is that we are to subsidize the interest rate, while anticipating for the banks to make the funds available at an interest just below 3.25%”, the Minister said.
She underlined that this is not a matter of subsidizing the interest rates under which the loans are to be extended to the companies, but rather paying a lower interest than the average one being currently offered by the banks.
“The companies will pay the interest, which will be lower than the one being currently offered by the commercial banks – an average rate of 4.9%. The whole point is attaining a 3.25% interest rate or less,” Minister said, underlining that providing cheaper loans and paying lower interest rates was the point behind Governments’ efforts, rather than paying the companies’ interests.
During the interview, the Minister also reflected on the 2025 Draft Budget, pending amendment debate within the Financing and Budget Commission as of today.
Оваа вест е достапна и на:
