11th December 2024, Skopje – Minister of Finance, Gordana Dimitrieska-Kochoska expects for 2024 to be concluded with a much higher growth rate than the projected one, along with lower public debt, whereby the following year will be marked by high capital expenditure execution, accompanied by projected Budget revenue collection, being highlighted during MRTV Open Studio’s discussion on the topic “2025 Budget”, alongside the Prime Minister, Hristijan Mickoski, and the business community representatives.
“Much higher economic growth rate and lower public debt will be recorded, which will be below 62.7% at the end of this year, followed by its reduction to 62.1% at the end of the next year. Upward GDP adjustments for 2024 and 2025 imply a public debt lower than 62.1%, which speaks in favour of our dedicated work. Commitment yields much quicker results”, the Minister said.
She pointed out the following year will be defined by high capital expenditure execution through activities carried out on the field, as well as activities related to projects undergoing poor performance.
In addition to the harmonization of the legislation with the European Directive on Global Minimum Tax, she underscored that the following year will not record any tax rate changes, being projected neither under the 2025 Budget nor under the Fiscal Strategy.
“Informal economy will be in the limelight, thus giving us reassurance as regards the revenue collection. Huge room exists for extracting revenues from the informal sector, which according to some unofficial data accounts for around 40%, given that the legal provisions in place already stipulate their collection. Few days ago, an e-invoice public call was published, which introduction would allow for higher VAT collection and better coordination and communication among institutions – PRO, Customs Administration, Financial Police, thus enabling us to both detect the gaps within the system and eliminate all informal operations of the companies”, the Minister said.
She also touched upon the data discrepancy between the Customs Administration and the Public Revenue Office, which inflicted damage to the Budget via the VAT refund. Therefore, control was performed, thus preventing the misuse of at least Denar 2 billion budget funds.
The Minister said that weaknesses have been detected, with the issues being analysed at length, requiring a great deal of time to resolve the problems, persisting throughout the years.
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