Skopje, 2 March 2025 (MIA) - The Government follows a very cautious policy towards controlling spending, the budget deficit and public debt, and this commitment has been demonstrated through the reduction of state debt, and accordingly, public debt, Minister of Finance Gordana Dimitrieska Kochoska said, noting that the level of public debt at the end of 2024 stood at 61.9 percent while at the end of January it stood at 58.2 percent of GDP.

"This is due to the repayment of the Eurobond with the loan we took out, with which we made annual savings of EUR15 million, or EUR 30 million for the two tranches. This shows our commitment towards controlling spending, the budget deficit and public debt, and I believe that we will be very cautious by the end of the year," the Minister told Sitel TV. 

She added that the International Monetary Fund (IMF) mission, which visited the country in the past period, has also noted the Government's efforts to control spending, though it has concluded that the Government has inherited many problems from before, as confirmed by the fact that the country is the only country in the region that has failed to consolidate in terms of budget deficit and public debt. 

As regards the issue of increasing the minimum wage, she said the Government will welcome and respect the solution that will be agreed upon by workers and employers over a minimum wage increase, which will be based on productivity and payment of the agreed amount in accordance with legal obligations.

"In the elections less than a year ago, we ran with an election program that stated our positions regarding tax rates and contributions, and there will be no change on that issue. As a state, we will accept what workers and employers agree among themselves within the Economic and Social Council, where there are representatives from both sides. The wage should be based on productivity, and if the amount they agree on is appropriate, we will absolutely welcome that. That is, if one side believes that it can deliver productivity at what they agree on as the minimum wage and the other side believes that it will be able to pay it in accordance with the legal obligations that we have never said we would change, we will welcome that and continue to respect it," the Minister said, adding that a very small part of administration employees are tied to the minimum wage, the largest percentage is above the minimum wage.

On the pensions, she said that with the pensions that are to be paid on April 1, pensioners will receive the promised increase of 2,500 denars which would correct an injustice done with the policies implemented in the previous period, and then the old methodology will be returned, because, she noted, there are no amendments to the law at this time to say that it will be changed.

In terms of the measures the Government has taken to curb inflation, she said she expects them to have an effect in the short term and that some solutions are being prepared in the area of ​​agriculture that should have a long-term impact.

Photo: MIA archive