Ohrid, 27 September 2024 (MIA) — Hungary is a strong European supporter of the country's efforts to achieve macroeconomic stability and implement reforms on its way to the EU; the favorable loan of EUR 500 million was a step in the direction of increasing cooperation, the Ministry of Finance said in a press release following the meeting between Finance Minister Gordana Dimitrieska-Kochoska and her Hungarian counterpart Mihály Varga in Ohrid on Friday.

The meeting was held on the sidelines of the intergovernmental session between Macedonian and Hungarian ministers on an official visit to the country. 

"Macedonia is facing many challenges. The new government has dealt with many open issues since coming to power. Our goal is to stabilize the macroeconomic situation and steadfastly move toward greater economic progress," Minister Dimitrieska-Kochoska said.

According to the release, she told Varga that the national budget for 2025 was being drawn up.

"We will pay attention to the fight against the gray economy and look forward to achieving significant results in income stability and raising competitiveness," the finance minister said, adding that the state would also introduce an electronic invoicing system.

Dimitrieska-Kochoska and Varga exchanged opinions on tax policies, the global tax, agricultural support through subsidies as well as dealing with inflation. She highlighted that the country was committed to creating more favorable business conditions.

She also thanked Hungary on the half a billion euro loan with favorable terms. She said the EU member-state's experiences would be a valuable help in the country's efforts to achieve economic progress and a higher living standard through implementing reforms.

"We have many open opportunities for promoting cooperation, especially economic cooperation. The bilateral loan was an enormous help for us so we can implement reforms and stabilize our macroeconomic situation," the finance minister said. 

"It is just the first chapter of the broader economic cooperation that will develop between our two countries," the minister said.

Meeting participants confirmed the country's commitment to continuing the reforms toward full EU accession and the unwavering support of Hungary, which currently holds the EU presidency, for the Macedonian and the entire Western Balkan membership aspirations.

Dimitrieska-Kochoska pointed out that reforms were pivotal for progress toward the EU and that they reforms would be high on the governmental agenda, according to the release.

The finance ministers also discussed upcoming activities funded by the loan secured from Hungary's Export-Import Bank. The loan agreement is expected to be signed in October. mr/