Total budget revenues in March were realized 101%, while tax revenues reached 103%. According to Vice Prime Minister and Minister of Finance, Zoran Stavreski such results are in line with the expectations of the Government that budget revenues will perform well in the first three months of the year.

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– Total revenues were realized 101% in March this year, while tax revenues reached 103%. Tax revenues overeperformed by 3%, being in line with our expectations that revenues will perform well in the first quarter this year, since the economic results, i.e. the industry and the other sectors showed positive results. As it is already known, industrial production grew and other sectors experienced good performance, so we expect no problems in the remaining months of the year as well, i.e. to collect and use budget funds, as well as to spend them in line with the envisaged dynamics and the Budget approved by the Parliament, Minister Stavreski said answering journalists’ questions prior to the commencement of the Conference, marking the start of the Twining Project for supporting fiscal decentralization process by strengthening the capacities for sound financial management and internal financial control at local and central level.

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As regards investments, he said that conditions were created for a fresh investment cycle in the course of this year, which would enhance in the coming years. This, as he added, requires realization of domestic and foreign investments.

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– Our expectations are that several foreign investments, being in the final stage will be completed soon. They will be also significant for the local population in the interior of Macedonia, as well as in the industrial zone Bunargik, where investments are made, Minister said, adding that what is more significant is to instigate the domestic sector. Domestic investors, he added, should have favourable conditions to invest and thus, the two measures of the Government pertaining to the sale of land at an initial price of EUR 1 per square meter and land privatization by existing companies at the price of EUR 1 to EUR 5 per square meter, are the strongest arguments adding to the expectations that such investment cycle could start this year, which would come to its fore in the next years.

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As for additional measures for stabilization of oil derivatives’ prices requested by oil companies, Minister said that the Government is always willing to meet the business sector representatives and to discuss the ways and proposals aimed at supporting the economy and mitigating the oil price shocks. However, he added that there is better proposal for distributors and “Makpetrol”, as well as the others giving the proposals, to reduce their margin by Denar 1.5, thus helping the citizens. Their margin, as Minister said, is Denar 3.2 per liter.

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– I believe that the Government measure to reduce excises by Denar 4.5, regardless of the trends in the oil price, would mean that the citizens will pay by Denar 4.5 per liter less. If oil price increases on the global stock markets, such increase will be lower by Denar 4.5 with this Government measure, it will be always for the benefit of the citizens and the companies, Minister Stavreski said.

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As regards whether the Government will intervene at fuel oil, Stavreski said that the Government intervened wherever possible. – We intervened wherever and with as much funds as possible. No one can bear the entire burden of global trends alone. It is necessary for all entities, the economy, oil distributors and all others to take portion of that burden, thus, we can overcome the situation, when trends on global stock markets are unfavourable. We did our best. We gave up EUR 10 million and I believe this is a great contribution of the state for recovery of the economy and mitigation of the price shocks, Stavreski said.

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As regards the previous statement of the Minister that the intervention in excise duties will call the payment of salaries and pensions into question, he said that he gave no such statement. His statement was rather that reduction of excise duties will certainly reflect on the Budget. The Budget implication is EUR 10 million.

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However, we assessed that we should give up this amount of funds under the current circumstances, since the effect therefrom will be retaining the dynamics of economic activity and the standard of the citizens. This amount will be compensated through other savings in the Budget, such as avoiding all expenditures, when the Ministries can incur lower expenditures in relation to current expenditures. This refers to all intuitions, which should make savings in this period. As long as there are consequences from the crisis or as long as consequences from the global inflation are felt, the country has to be act in an accountable manner, Vice Prime Minister and Minister of Finance, Zoran Stavreski said.(MIA)

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