Skopje, 17 October 2024 (MIA) – The procedure to transfer funds from the Hungarian loan has been already completed and it is expected the money to appear in the National Bank’s account today before they are transferred to the budget tomorrow, Finance Minister Gordana Dimitrieska – Kochoska has stated.

“The Finance Ministry sector has informed me all is set and I expect the funds to be go to the National Bank’s account before they are disbursed towards municipalities and companies. The projects of the municipalities set to be funded by the loan have been already selected. The amount requested by the municipalities to implement their projects was higher and it was important that they should be in a final stage so as to contribute also to economic development,” Dimitrieska-Kochoska told Alfa TV. 

The procedure to withdraw the second tranche from the loan has started, which will be used to pay the Eurobond, due in January 2025, she announced.

Regarding the segment of the loan planned for the business sector, the Minister said she will meet on Friday with the Macedonian Banking Association for talks on disbursement of the funds toward companies. Funds will be disbursed after they are transferred to the Development Bank. 

In the Alfa TV interview, Dimitrieska-Kochoska also referred to the 2025 draft budget, saying it will focus on fiscal consolidation, i.e., increasing revenues and decreasing expenditures. Next year, she said, budgetary deficit is planned at 4 percent before it drops to 3.5 percent in order to be recorded at 3 percent in 2027.

In the 2025 budget, stated the Minister, funds are planned to increase pensions by 2,500 denars, for education, 250 million euros for projects in the municipalities, funds for infrastructural projects, as well as Corridors 8 and 10d. 

MIA file photo