10th December 2024, Skopje – on Tuesday, the Parliament adopted the 2025 Budget, including both development and social components. Total revenues are projected in the amount of Denar 358.8 billion, expenditures are projected in the amount of Denar 400.2 billon, with the budget deficit being projected in the amount of Denar 41.3 billion or 4% of the projected GDP.
By elaborating thereon, Minister of Finance, Gordana Dimitrieska-Kochoska underlined that 2025 Budget incorporates the changes made as regards the policies aimed at carrying out fiscal consolidation, ensuring fiscal sustainability, and supporting economic growth.
“2025 will be marked by scaled-up investments. These investments will both produce value added and serve as a driving force, thus taking us a step forward in attaining higher economic growth rates. They also provide for creating the right conditions for building a better future, which will also have a significant positive impact on the economic activity next year”, Minister said.
What makes this Budget particularly distinct is the upward trend of expenditures being lower than the one of revenues. More precisely, as per this Budget’s projections, revenues are higher by 13% with expenditures picking up by 10% compared to 2024, thus contributing to fiscal consolidation and budget deficit reduction by around Denar 3.3. billion.
By highlighting the development component as the most significant feature of the 2025 Budget, she pointed out that the capital expenditures are projected in the amount of Denar 47.2 billion or with around 4.6% share in GDP on annual basis, thus creating preconditions for a new cycle of economic growth.
Budget funds have been provided for regular payment of wages and pensions, which will be increased by Denar 2,5000 as of March 2025, as well as payment related to social rights, along with regular settlement of the liabilities.
As per 2025 Budget, economic growth is projected at 3.7%, with inflation being forecast at 2.2%.
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