Skopje, 9 December 2024 (MIA) - A debate on the 2025 draft budget is expected to begin in Parliament on Tuesday. 

The amendment debate on the 2025 draft budget was wrapped up on November 29, and the draft budget now incorporates all approved amendments and accordingly required alterations and amendments. 

As outlined in the Parliament’s Rules of Procedure, the debate lasts no more than five days. During the debate, an MP is entitled to speak a number of times in a total duration of up to 20 minutes, and coordinators of parliamentary groups of up to 30 minutes. 

The draft budget projects economic growth at 3.7 percent and, according to the Government, it is developmental, covered by planned funds for capital investments, municipal projects, and support for the economy.

Revenues are projected 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. 

Inflation is expected to decrease to 2.2 percent as a result of the stabilization of prices for basic food products and energy on the international market, the slowdown of foreign effective inflation, and more moderate pressure from core inflation. Exports are projected to rise by 4.2 percent, and imports by 4.4 percent. 

Speaking at a press conference on Sunday, Prime Minister Hristijan Mickoski said the Government has managed to consolidate the economy in a short period of half a year, expressing satisfaction with State Statistical Office data on 3 percent GDP growth in Q3 of 2024 (July, August and September). He said he expects similar and higher growth in Q4 of 2024 (October-November-December), adding that it would bring the country closer to an annual rate of 3 percent, "which is much higher than the projected 1.8 percent". 

"In addition to the historically largest growth in foreign investments, which we expect to exceed EUR 1 billion by the end of the year, we have managed, after consolidating the Macedonian economy, to have the first indicators among the best in Europe, and certainly the best in the region. We will not stop here, we will continue to work. I can say that recovery is at a satisfactory level, it can always be better, and we will strive to make it better, and it will be better," said Mickoski. 

According to the Rules of Procedure, once the amendment debate is concluded, the draft budget is submitted back to the Government for final approval, and in line with legal deadlines, it should be voted on in Parliament before the end of the year.

The draft budget will be discussed during the Parliament's 22nd session, which will also include a vote on the proposal for law on execution of the budget of the Republic of North Macedonia for 2025 (under an expedited procedure).