Tag: budget
Economy 20.07.24 | 18:40

Tens of millions meant for pensions and subsidies are missing from the budget

The budget lacks 5 billion denars (90 million EUR) earmarked for retirees and 3.7 billion denars meant for farm subsidies, warned Prime Minister Hristijan Mickoski, who discussed the dire condition of public finances. The previous Government paid out a pension for the previous fiscal year. They forgot...

Economy 29.06.23 | 18:30

Kochoska – Dimitrioska: The 2023 Budget will be 200 million euros short

VMRO-DPMNE Vice-Chair Gordana Dimitrieska-Kochoska claims that the Budget will be €200 million short this year, due to poor VAT collection. The Budget will be filled by the social contributions and the personal tax, collected from the salaries, because, as worthless as the salaries are, their total...

Economy 27.06.23 | 13:02

IMF: There is room for higher salaries in the public sector, but watch for the inflation

Macedonia is in a process of economic recovery, with a real GDP growth projected to 2.1% this year, 3.4% in 2024, and retuning back to 2% in 2026, states the IMF Mission preliminary report, which monitored the  country from June 5 to June 9. “The public finances are on a good path to achieve the...

Economy 23.12.22 | 12:27

Parliament concludes debate on the 2023 budget

Members of the Macedonian Parliament wil conclude the debatee on the 2023 budget. The budget provides for a deficit rate of 4.6 percent of GDP. Total revenue is projected to reach 4.6 billion EUR, and spending is set at 5.3 billion EUR. The Finance Ministry estimates the 2023 growth rate at 2.9 percent,...

Economy 04.11.22 | 11:49

Proposed budget for 2023 only confirms that Macedonia has entered stagflation, the government plans growth of 2.9 percent and inflation of 7.1 percent

Macedonia is in despair with this Government of SDSM and DUI. Fiscal sustainability is long gone, fiscal space is exhausted, and public debt has increased enormously and will increase significantly again next year. The deficit breaks records for the fourth year in a row. Next year they plan it at 700...

Economy 03.11.22 | 09:21

The government has drafted a budget of five billion euros, there is not even half of the money

The draft budget for 2023 foresees total revenues of 282 billion denars (4.58 billion euros), expenditures of 324.8 billion denars (5.28 billion euros) and a budget deficit at the level of 4.6 percent of the planned GDP. Economic growth is expected to be 2.9 percent, and inflation 7.1 percent. External...

Economy 21.05.22 | 18:39

VMRO-DPMNE: Proposed budget changes will only add to the inflation and the economic downturn

VMRO-DPMNE reacted to the changes to the 2022 budget, that are being proposed by the DUI – SDSM coalition. According to the opposition party, which is blocking what it refers to as “harmful legislation” in Parliament, the proposal would only add to the economic chaos and backsliding. Macedonia...

Economy 15.03.22 | 10:08

Finance Ministry will again cut infrastructure spending as economic crisis deepens

Finance Minister Fatmir Besimi announced that the coming changes to the 2022 budget will include the typical move of the Zaev – Kovacevski governments – further cuts in infrastructure spending. It is clear that the key infrastructure projects, whether it is roads, railways, healthcare projects,...

Macedonia 15.11.21 | 16:08

Attempting to rule without majority in Parliament, SDSM asks for support from VMRO-DPMNE to adopt the 2022 budget

After the strongman tactics used last week to ensure the survival of the Zaev Government, SDSM now asks VMRO-DPMNEto help them adopt the 2022 budget. SDSM doesn’t have majority after the BESA party left its coalition and Zaev is frantically trying to bring another smaller Albanian party – Alternative...

Macedonia 15.11.21 | 12:13

After last week’s chaotic events, Parliament now tries to adopt the 2022 budget

After the chaotic events of last week, the Macedonian Parliament is expected to try to resume work today, as the Zaev regime is desperate to adopt the 2022 budget. Last Thursday, an opposition member of Parliament Kastriot Rexhepi, from the BESA party, was apparently kidnapped to prevent him from attending...

Economy 13.11.21 | 11:27

Amid the growing political crisis, Finance Minister Besimi asks the Parliament to approve the 2022 budget

As the Zaev Government is left without an effective majority in Parliament and was apparently reduced to forcing an opposition member of Parliament to avoid the vote of no confidence on Thursday, Finance Minister Fatmir Besimi said that the Parliament must find the votes to adopt the 2022 budget. Failure...

Macedonia Economy 08.06.21 | 23:43

Government asks Parliament to allow the 2021 deficit to spike to 757 million EUR, or 6.5 percent of GDP

The Government today adopted a proposed rebalancing of the 2021 budget, which increases the deficit projection to 6.5 percent of GDP, with 334 million EUR in additional spending – only half of that offset by new revenue projections. Spending is projected to grow by 21 billion denars, or 344 million...

Macedonia Economy 21.12.20 | 17:21

Dimitrieska on Zaev’s Plan 21: Recycling of old promises and self-interested focus on marijuana legalization

VMRO-DPMNE official Gordana Dimitrieska Kocoska responded to Zoran Zaev’s press conference today and the 2021 budget proposed by his SDSM party, by denouncing it for its lack of infrastructure investments, the recycling of old promises and the corrupt focus on legalizing marijuana. Zaev promised...

Macedonia Economy 20.12.20 | 23:16

Nikoloski on the 2021 budget: Record spending on administrative salaries, while infrastructure spending is set to the side

VMRO-DPMNE Vice President Aleksandar Nikoloski strongly criticized the proposed 2021 budget for what he said are its unrealistic projections and the meager investment in infrastructure. Nikoloski pointed to the fact that the budget provides tax revenue of 1,91 billion EUR, a little above the 2019 collection. What...

World 10.12.20 | 23:16

EU leaders reach agreement on their stalled budget

European leaders reached agreement on the seven year budget that was held back by countries who insisted to use it as pressure tool against Poland and Hungary and their conservative leaderships.  Agreement on the nearly two trillion EUR budget was announced by the German presidency, and it’s widely...

Macedonia 30.11.20 | 15:20

VMRO proposes amendments that will help reduce air pollution to the 2021 budget

VMRO-DPMNE representatives in the Parliament have submitted amendments to the 2021 budget demanding urgent policies to reduce pollution. Timco Mucunski from VMRO-DPMNE said that this is a crisis issue which is costing lives and presented a report from the O2 organization which the amendments are based...

Macedonia Economy 30.11.20 | 09:07

Parliament will attempt to discuss the 2021 budget

The Parliament is scheduled to resume its discussion on the proposed 2021 budget. Its adoption hinges on the opposition, which submitted 500 amendments, and could obstruct the opening of the session. The ruling majority has only 62 votes, and is often unable to put together the 61 votes needed to begin...

Macedonia Economy 11.11.20 | 17:14

Four billion – in 2021 we will have the biggest budget ever

The Zaev Government announced it has finalized its 2021 budget that it will now submit to the Parliament. It provides for total spending of 4,024 billion EUR, making it the biggest budget in Macedonian history, at least in its initial projection (the 2020 budget may surpass this figure). Revenue is projected...

Macedonia Economy 10.11.20 | 18:34

After proposing record deficit setting 2020 budget amendments, Zaev’s Government now prepares the 2021 budget

Fresh out of the protracted process of amending the 2020 budget, which pushed the deficit to just under a billion – an unprecedented figure which drove the Macedonian public debt near 60 percent – the Zaev Government is now planning to put the 2021 budget before the Parliament. Zaev has only...

Macedonia Economy 04.11.20 | 09:18

Parliament adopts amendments to 2020 budget set to explode the deficit

The Macedonian Parliament adopted the amendments to the 2020 budget that will blow the deficit to nearly a billion EUR and push the debt to nearly 60 percent of GDP. The amendments provide 65 million EUR to boost salaries of employees in companies that are struggling with the coronavirus crisis, and...

Повеќе