Skopje, 12 October 2023 (MIA) - Finance Minister Fatmir Besimi and National Bank Governor Anita Angelovska-Bezhovska have met with representatives of the International Monetary Fund (IMF), agreeing that North Macedonia's economic policies have laid a solid foundation for an increased growth potential and higher growth rates in the medium term.

Interlocutors highlighted the resilience of the country's economy, noted that the macroeconomic fundamentals are sound, whereas IMF's growth projections have been upped by 1.1 percent in its October assessment compared to the one in April, the Ministry of Finance said in a press release.

Minister Besimi and Governor Angelovska-Bezhoska met with IMF Executive Director Paul Hilbers, Alternate Executive Director Luc Dresse and European Department Director Alfred Kammer. 

Investments will play a significant role, especially the capital ones, due to their triple-fold growth compared to last year. Inflation is expected to drop, with the Government's anti-crisis measures contributing to this.

Besimi said economic policies are validated by relevant international financial institutions and investors, as well as the achieved results.

"Budget revenues are by 12 percent higher than in 2022, expenditures and deficit are within projections, keeping the course of gradual fiscal consolidation. Capital expenditures have increased by 142.2 percent. The public debt is maintained at the level prescribed in the new Law on Budgets and the Maastricht criteria. The Budget's financing until the end of 2023 has been secured," said Besimi.

The meetings also tackled the Government measures to manage the energy and price crises.

The country has secured EUR 225 million for the crisis management and additional funds through the Budget reallocation adopted in the Parliament. Inflation has been dropping and this trend is expected to continue, reads the press release.

Photo: Ministry of Finance