Skopje, 12 December 2024 (MIA) - With 61 votes in favor, the Parliament on Thursday passed the Law on Execution of the Budget of the Republic of North Macedonia for 2025, under an expedited procedure, after the 2025 Budget was approved at a session on December 10. 

The Law sets the manner and conditions on execution of the Budget for the current fiscal year.

In addition, the Law introduces an obligation to realize 15 percent of capital expenditures in Q1, 40 percent by Q2, 65 percent by Q3, and 70 percent by Q4, except for the EU Integration Program and the sub-programs NATO Integration and Infrastructure Projects in Municipalities. 

The 2025 Budget projects revenues at Mden 358 billion (EUR 5.81 billion), whereas expenditures stand at Mden 400 billion (EUR 6.49 billion). The budget deficit is projected to total Mden 41.35 billion, or 4 percent of the planned GDP. Economic growth is projected at 3.7 percent, while inflation is expected to decrease to 2.2 percent.   

Also, Mden 50.5 billion are planned for capital investments, as well as Mden 349.6 billion for current expenditures, including the payment of salaries, pensions, social rights, subsidies in agriculture, support for small and medium-sized enterprises, vulnerable categories of citizens and the economy.

Budget expenditures on salaries and wages stand at Mden 48.1 billion and record an increase of 8 percent. Goods and services at Mden 26.2 billion, recording a decrease of 0.5 percent in the structure of total expenditures. The Budget includes Mden 105.5 billion for pension payments, providing funds for the announced Mden 2,500 increase in pensions in March next year. It also includes about Mden 14.5 billion for social protection benefits, Mden 1.6 billion for compensation in case of unemployment, and Mden 2.3 billion for the implementation of active employment policies and measures. More funds are provided for health care, i.e. Mden 52.5 billion which is 10.7 percent more. Support for agriculture is planned at Mden 8 billion, while transfers to local self-government units at Mden 33.2 billion, i.e. Mden 2.5 billion more.

Photo: MIA archive