Skopje, 2 November 2022 (MIA) — The state will finance its projected budget deficit and pay down its debt using domestic and foreign sources, Finance Minister Fatmir Besimi told a news conference Wednesday. Presenting the proposed national budget for 2023, Finance Minister Besimi said the budget deficit was around EUR 700 million (Mden 42.75 billion), of which EUR 220 million was earmarked for interest payments; EUR 250 million would be used to support the economy and citizens amid the energy crisis; and EUR 250 million for the construction of Corridor 8. “This year, we have these three big items,” Besimi said. “Not counting them, we are spending less than we collect in taxes. “We have no choice but to pay interest on previous debts. We have to pay them down. “The energy crisis is not something we can control. We have to allocate funds for that. “And the strategic capital investment into Corridor 8 means developing our country,” he told the press. Besimi said that the National Bank was about to receive EUR 110 million from the International Monetary Fund, followed by another EUR 170 million by May 2023. North Macedonia is expecting the announced EUR 80 million in grants from the European Commission, he said, and is also negotiating with the World Bank to obtain funds through a development program. mr/