Skopje, 14 November 2024 (MIA) – The Parliament’s Financing and Budget Committee kicks off Thursday a debate on the proposed 2025 budget.

The draft-budget, passed by the government in late October, projects an economic growth of 3.7%, budget deficit of four percent of the GDP and a 2.2% inflation. 

Budget revenues are projected at Mden 358 billion (EUR 5.81 billion), a 13-percent increase compared to 2024, whereas expenditures stand at Mden 400 billion (EUR 6.49 billion), a 10-percent rise compared to the previous budget.

The 2025 budget includes measures for fiscal consolidation and disciplined tax spending, as well as measures and policies to stimulate economic growth.

"We have created a Budget that is set to bring real development. Capital expenditures stand at Mden 50.65 billion (EUR 822 million), which represents a 13-percent growth compared to the budget revision. This is what development is based on, seen in the fact that the amount of capital expenditures is higher than the nominal amount of the deficit," Minister Dimitrieska Kochoska told a press conference.

The current situation, she added, continues to impose the need for savings, but we will be cautious in ensuring the institutions' regular operations and delivery of quality services for citizens and businesses.

The opposition has said it won’t back the draft-budget, calling it “unrealistic and not allowing development.” SDSM MPs have filed over 200 amendments. 

“The budget, as it is proposed, is designed to meet the needs of the government instead of the needs of the citizens,” SDSM leader Venko Filipche said Wednesday. 

“The government projection for a GDP rising growth is laid on an unrealistic foundation with the aim to justify an increasing budget deficit. This will also mean public debt will raise without allowing any development. In other words, we will spend more than we earn,” he stated. 

The opposition party DUI also criticized the proposed budget for 2025 for projecting increase in budget expenditures and a rising public debt. 

According to the new Parliament’s rules of procedures, commission members can debate the budget until November 30 after which the draft-budget should be passed at a plenary session. 

In an interview with MIA over the weekend, Parliament Speaker Afrim Gashi announced that the draft budget should be scheduled for a plenary session in the second half of December. 

MIA file photo