FM Angelovska: Allocation of public revenues for citizens and strong support for business

Newly appointed Finance Minister Nina Angelovska elaborating the proposal for amending the budget before lawmakers, said it provides allocation of greater share of public revenues to citizens, direct investment in people’s needs and potentials and strong financial support for business to create new jobs as well as payment of higher salaries in the private sector and for all workers.

The proposal for amending the budget is on the agenda of the Parliament’s Finance and Budget Committee.

“With the budget rebalance we will provide support for higher salaries for private sector employees, higher salaries for public administration employees, more funds to support active employment measures for unemployed citizens, and finally, VAT return payments within My VAT project,” Angelovska said.

She added that the goals set for 2019 are aimed at achieving the key priorities of society: higher growth rates of the economy, increasing productive employment, raising citizens’ living standards, achieving higher levels of social justice and intensifying EU and NATO integration processes.

Angelovska reminded that as of Sep. 1 new increase of 5 percent in salaries in public administration, healthcare, education, kindergartens, culture, law enforcement, defence came into force.

Under the revised budget, revenues stand at 210,5 billion denars with overall expenditures totaling 228.3 billion denars. The deficit is remains at 17.7 billion denars, which is 2.5% of the GDP.

With the budget rebalance, 400 million denars have been singled out to subsidy pay growth in the private sector, 200 million to support active employment measures, additional funding for agriculture, 193 million denars for procurement of drugs for rare diseases and insulin, 193 million denars to protect the Lake Ohrid collection system and VAT return payments.

Angelovska also presented the macroeconomic developments and projections to the Finance and Budget Committee members, highlighting that the growth of economic activity in the first half of 2019 continued at a higher intensity compared to the growth in 2018 and amounted to 3.6%.

Minister Angelovska said that the continuous acceleration of the economic growth during 2018, as well as the positive developments in the first half of 2019, expressed through investment growth, strong support to the economic growth, continuous export growth, intensified, growth of activity in construction and industry, represent a real basis for achieving projected economic growth of 3.5% in 2019.

The debate in the Committee is to last 10 days in line with the parliament’s rules of procedure after which the proposal is to be debated at a plenary session.