Skopje, 2 July 2024 (MIA) - The Budget revision has not been fully defined yet but it is clear that revenues and expenditures will remain at the same level and the deficit will not be altered. Non-priority expenditures will be cut and transferred to functional projects, says Finance Minister Gordana Dimitrieska-Kochoska.

"There is a revision draft already. We know the needs, the priorities and the mistakes that were made when planning the 2024 Budget. Priority will be given to servicing everything in line with the law, such as collective agreements, salaries, pensions," Minister Dimitireska-Kochoska told TV24.

She says there is room to cut from certain positions and reallocate, including from capital investments, where funds are kept in dedicated accounts but projects are not realized.

"As of June 30, EUR 20 million will be cut from capital projects where realization has not reached 40 percent," says Dimitrieska-Kochoska and adds that cuts will also be made in the covid-programme because of inactivity since the onset of the year.

The Finance Minister notes there will be no increase in taxes, that the business community will have a predictable environment so it can invest. On the public debt and borrowing, she says the eurobond payment is set to mature in January 2025 and the pending issue is whether to do this through the issuance of a new eurobond or using funds from the EUR 1 billion loan that has been recently announced.

Photo: Ministry of Finance