15th October 2020, Skopje – Supplementary Budget provides for implementation of the fourth set of anti-crisis measures, aimed at ensuring sustainability of the national economic activities and the jobs, recovery of certain activities, stability of the social transfers, as well as policies underpinning the implementation of a fast exit strategy providing for continuation of the positive trends in the Macedonian economy once the crisis is over. Minister of Finance, Fatmir Besimi, underlined at the Financing and Budget Parliamentary Commission.

– Fourth set of measures rests on three pillars. The first one is intended for the citizens, the social segment that refers to the citizens and their standard so that they can overcome this period. The second pillar covers the private sector, i.e. the economic activity and the jobs, all activities that include liquidity, financial stability and economic recovery. The third pillar refers to fiscal and financial stability in the economy as a whole. The targeted measures will amortize the blow to the affected domestic companies by stimulating private consumption and supporting the private sector, Minister of Finance, Fatmir Besimi, pointed out.

Total revenues are projected in the amount of Denar 196.3 billion, being almost at the same level in relation to the prior projections, while total expenditures are projected in the amount of Denar 253 billion or by 4.1%, i.e. by around Denar 10 billion, higher in relation to the prior projections. The deficit, on the basis of such projected revenues and expenditures, is projected in the amount of Denar 56.6 billion, i.e. 8.4% of GDP.

Supplementary Budget provides for additional funds in the Government program intended for implementation of part of the measures within the fourth set of measures pertaining to wage payment support to companies experiencing certain revenue decline as a result of the pandemic, domestic payment card, support to the producers, manufacturers and exporters of grapes, wine in bulk and bottled wine, tourist guides performing independent activity, tourist tax refund for 2019 for organized overnight stays, VAT-free weekend within “MyVAT”, state loan guarantee and customs bank guarantee and grants for travel agencies, kinds’ play areas and restaurants for weddings.

2020 projected deficit, repayment of foreign debt principal in the amount of Denar 26.9 billion and domestic debt repayment in the amount of Denar 15.3 billion will be financed by external borrowing and borrowing on the domestic government securities market.

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