In 2024, the budget projections do not include new or increased taxes, according to Finance Minister Fatmir Besimi. The draft budget is being finalized and will be submitted to Parliament by mid-November. Growth and fiscal consolidation are expected to continue next year, with a decrease in the deficit. Inflation is expected to remain low in October, with figures to be released next week.

Besimi mentioned that new anti-crisis measures will be implemented by the end of 2023, with a total of Mden 4.6 billion available. However, a portion of these funds, Mden 980 million, will be allocated to “Macedonian Railways” to repay its debt to Power Plants of North Macedonia (ESM). Further anti-crisis measures will be introduced in early 2024, targeting vulnerable citizens and supporting the business sector.

Regarding the Solidarity Tax, Besimi emphasized that the funds will be used exclusively for the anti-crisis package, and the ministry will comply with the Constitutional Court’s decision if it accepts the Economic Chamber’s initiative challenging the tax. Capital investments have increased by 110% compared to 2022, and wages have grown by 14% compared to the previous year, which is expected to enhance productivity and competitiveness.