Skopje, 26 February 2025 (MIA) - SDSM leader Venko Filipche urged Wednesday the Government to respond if the Hungarian loan funds have been spent for other purposes.

Filipche told a press conference the party has been getting information from banks they can no longer receive loan applications from companies because the Government cannot pay the funds.

"The Government should answer this question - has the money intended for businesses been spent for other purposes," said Filipche.

According to him, this is the reason why the Law on Banks was amended, allowing the Macedonian Development Bank for the first time on record to get credit from the Budget and not from international financial institutions as before.

"This means that all companies applying for such low-interest credit will do so from the Budget or other sources, and not from the Hungarian loan that was intended for this purpose. I am asking the Government whether this is the case, and will commercial banks that are currently providing these loans be subsidized by the Government from another source and not the Hungarian loan?, said Filipche.

The SDSM leader accused the executive of destroying the economy and not caring about the citizens' standard of life, while unwilling to accept any proposals coming from the opposition aimed at making the people's lives a bit easier.

"Realization of capital investments in January-February stands at 2.4 percent, compared to the 12.1 percent for the same period in 2024. Investments in infrastructure and economic development have completely stalled, and there is no growth without capital investments," noted Filipche.

He also said wages have not budged, while the minimum wage increase is in doubt.

"Workers and unions urge for a minimum wage between EUR 450-500 but the Government is silent. Social dialogue has been fully wiped out," said Filipche and added that SDSM would put forward proposals for increase of wages in the private sector, with the Government covering a portion of the contributions.

In addition, he referred to the drop of industrial production over the past four months and the rising deficit. "In this context, it is logical to see an increase of the public debt, which has now exceeded 70 percent of the GDP."

MIA file photo