Skopje, 2 November 2023 (MIA) – The budget projections for 2024 don’t foresee any new, additional taxes, nor an increase in taxes, said Finance Minister Fatmir Besimi at a media briefing Thursday, adding that the draft Budget is currently being finalized and should be submitted to Parliament by the middle of November.

According to the Minister, the trend of growth and fiscal consolidation is expected to continue next year, and the deficit is expected to decrease.

“The inflation rate in October,” stressed Besimi, “is expected to be even lower than the one in September.” He said the figures should be out next week.

The Finance Minister stated that new anti-crisis measures will be implemented by the end of 2023, and a total of Mden 4.6 billion are available for that end. However, he stressed, Mden 980 million of these funds will be given to “Macedonian Railways” so that it can repay its debt to Power Plants of North Macedonia (ESM). The anti-crisis measures are expected to be announced towards the middle of November.

Additionally, Besimi said new anti-crisis measures would be introduced at the beginning of 2024, which, he said, would focus on the vulnerable categories of citizens, as well as providing assistance to the business sector. 

Regarding the Solidarity Tax, the Finance Minister reiterated that the funds will be used exclusively for the anti-crisis package. He noted that the Finance Ministry would comply with the decision of the Constitutional Court if it accepts the Economic Chamber’s initiative disputing the tax.

“The Ministry isn’t tasked with interpreting judicial decisions, but each decision of the Constitutional Court must and will be respected,” underlined Besimi.

At the media briefing, Besimi noted that the realization of capital investments is up by 110 percent compared to 2022. He said the wages have also grown by 14 percent compared to the same period last year, as a result of which, he said, “productivity and competitiveness are expected to grow as well.”

Photo: MIA