Besimi – Geer: EU financial support reaffirms country’s commitment, reform agenda
Skopje, 31 October 2022 (MIA) – Finance Minister Fatmir Besimi met Monday with EU Ambassador David Geer, reaffirming country’s commitment on the EU path.
“With the start of the negotiations and the start of the screening process, reforms get accelerated dynamics. An action plan is already underway at the Ministry of Finance for the implementation of the recommendations from the latest European Commission (EC) Report, and work is also underway on the practical implementation of the reforms that were already highlighted in the EC Report, such as the Law on Budgets,” the Ministry of Finance said in a press release.
Minister Besimi noted that the EUR 80 million financial support announced by the EU to manage the energy crisis and the EUR 500 million investment package for the Western Balkans reaffirms the country’s commitments and the reform agenda.
“The Republic of North Macedonia doesn’t step back from the goals set to achieve a prosperous society, higher economic growth and full integration in the European Union. On this path, we have significant support from the EU, both financial and technical. As part of the Economic Reform Program, which we prepare every year together with the EU, measures and policies are defined that bring us closer to European standards. Currently, work is underway on the new Economic Reform Program, which should be adopted by the Government in January 2023. The funds available through IPA have a significant contribution to the implementation of large infrastructure projects,” Minister Besimi pointed out.
He added that sound economic policies are also recognized by international financial institutions, as confirmed with the support from the International Monetary Fund, i.e. the funds as part of the Precautionary and Liquidity Line - PLL that will be used to deal with the effects of the energy and price crisis.
“This is a significant support for the Republic of North Macedonia, which is strongly affected by the consequences of the energy and price crisis, and will be aimed at supporting the standard of the population, the liquidity of the economy, as well as stability in the provision of energy, particularly electricity,” said Besimi.
Participants in the meeting also noted that despite the increased costs for dealing with the crisis, the country remains committed to macroeconomic stability and fiscal consolidation in the medium term, in order to maintain favorable conditions for accelerated economic development.
