Skopje, 3 October 2024 (MIA) - All formalities regarding the Hungarian loan have been completed on both sides and I expect the funds to be transferred in full by the end of October, says Prime Minister Hristijan Mickoski.

"The Finance Minister will pay a visit to Budapest next week, where the loan agreement will be officially signed and I expect the funds to be transferred in full by the end of the month. Afterwards, half of the loan, namely EUR 250 million, will be made available to the business community, whereas the remaining EUR 250 million will be used for capital investments that will be realized in continuity," Mickoski told Kanal 5.

According to him, the funds will be used depending on the realization of the capital investments. More than Mden 5 billion (EUR 81 million) will be allocated for capital infrastructure projects in municipalities in 2024, with Mden 15 billion (EUR 243 million) to be earmarked in 2025.

The PM expects about 30 percent of this year's funds to be used, with the remaining to spill over to next year's budget.

"Municipalities are expected to apply with about 1,000 projects next year, leading to a historic local development through realization of projects funded from the national budget," notes Mickoski.

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